Press relations office
Today, the United States Agency for International Development (USAID) announced the Feed the Future Partnership for Sustainable Supply Chains, a new collaboration with Root Capital, Keurig Dr Pepper and Ezrah Charitable Trust to help small agricultural businesses around the world to stay afloat during the COVID-19 pandemic and rebuild in its wake. The American International Development Finance Corporation (DFC) will complete the partnership with a loan guarantee of $ 35 million.
Measures imposed by the government to contain COVID-19 have hit small businesses particularly hard. The Feed the Future Partnership for Sustainable Supply Chains will help small agribusiness businesses, especially those owned or run by women in Latin America, Africa and Asia, overcome operational uncertainties and limited connectivity to markets through business advice, debt relief and a resilience grant fund. With this financial support, businesses can continue to serve and buy from vulnerable smallholder farmers in their communities, including those who grow food crops, coffee, cocoa, soybeans and vanilla.
Growing small businesses in the agricultural sector are the backbone of emerging economies and provide a pathway out of poverty for small farmers. As the pandemic threatens their access to markets, their incomes, and their ability to create jobs and contribute to global supply chains, it endangers the livelihoods of entire rural communities. Through the U.S. government’s Feed the Future initiative, USAID, DFC, and partners around the world are helping communities respond to economic shocks from COVID-19 and become more resilient.
This new effort expands a long-standing partnership between USAID, Root Capital and Keurig Dr Pepper that began in 2013 to support smallholder farmers amid the crisis caused by coffee leaf rust in Central America. Building on this existing relationship, the partnership was able to mobilize quickly to respond to the dynamic impact of COVID-19. He added Ezrah Charitable Trust, a new USAID partner, and will not only support businesses in the current environment, but also work to ensure they emerge even more resilient once the pandemic is over.