FMO will take an unfunded risk participation in an uncommitted transactional working capital facility, made available and arranged by Banque Internationale de Commerce-BRED (Suisse) SA (www.bic-bred.com), for Sucafina. The company will utilize the funds to make prepayments to its operating companies and third party suppliers in origin countries (mainly East Africa and Colombia) for the purchase, storage, and transit of green coffee beans.
With this facility, Sucafina will be able to further expand its origination activities in Africa and Colombia and thereby provide direct support to smallholder farmers. Through the Farmer Hub initiative, the company wants to increase the number of smallholder farmers reached globally from ~170,000 to 350,000 over the next five years and assist them with growing speciality coffees, diversifying into other crops and access to banking services and markets. FMO is closely supporting the Farmer Hub initiative through its capacity development program.
ENVIRONMENTAL AND SOCIAL RATIONALE
The E&S category is B+.
Sucafina is a multinational coffee merchant, founded in 1977 and based in Geneva, Switzerland. The company is active across the coffee value chain ranging from farming to roasting and has the vision to be the Leading sustainable farm to roaster coffee company in the world by 2025.
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**Project contact information was not provided at the time of disclosure.**
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Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism