Project Grow: Accelerating Inclusion of Farmers and Youth into Commercial Cassava Value Chain (IADB-JA-M1035)

Countries
  • Jamaica
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 4, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Desnoes & Geddes Foundation
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.81 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 4.83 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Oct 13, 2016


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Project Description
The project -- of company Red Stripe, a subsidiary of Heineken -- to increase the incomes of small scale cassava farmers, as well as generate employment opportunities for vulnerable youth in Jamaica, through their integration into the commercial cassava value chain. Farmers will be given technical guidance where necessary by Red Stripe personnel. EUCORD (European Cooperative for Rural Development) will be a key technical partner in the execution of the agronomic and agribusiness components of the project. The project will engage other technical partners such as Jamaican’s Rural Agricultural Development Authority (RADA), University of the West Indies, and the International Centre for Tropical Agriculture (CIAT) among others, to provide critical technical knowledge, training, and know-how.
Investment Description
  • Inter-American Development Bank (IADB)
Technical Cooperation through the Multilateral Investment Fund (MIF). In October 2015, Heineken bought Red Stripe from Diageo, acquiring a majority stake in Desnoes & Geddes Ltd., the operating company for Red Stripe. The MIF has a letter of commitment from Red Stripe confirming their ongoing commitment to the project under the new ownership structure.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).