Lindt Cocoa Foundation supporting farm financing in SVG

The Lindt Cocoa Foundation – an international body, has announced that it is providing support for sustainable agriculture in St Vincent and the Grenadines via the Farmers’ Support Company (FSC) and St Vincent Cocoa Company (SVCC).{{more}}

The Foundation has agreed to pay for training for FSC and SVCC staff in agricultural lending practices to speed up the farm loan approval process, while at the same time ensuring that proper risk management procedures are in place.

The training will take place the week of April 21, when approximately seven staff from FSC and three staff from SVCC will be trained by a Washington DC based consultant in agricultural lending practices.

Andrew Hadley, general manager of SVCC said “The generosity of the Lindt Cocoa Foundation reflects their strong belief in the future of sustainable agriculture in St Vincent. A strong link between farmer, lender and offtaker reduces risks for all parties concerned.

“Agricultural lending is a new concept in St Vincent, and we need to ensure that we start with the right processes in place for farmers and for lenders and offtakers. We can now do that, thanks to the help from the Lindt Cocoa Foundation.”

Funding is being provided via Source Trust, which is a not-for-profit organization, set up by Armajaro Trading Ltd to help farmers improve their livelihoods through better crop yields and quality, achieved through sustainable farming practices. Armajaro Trading Ltd is the parent company of St Vincent Cocoa Company.

The Lindt Cocoa Foundation was set up in 2013 by Lindt and Sprungli to foster all aspects of sustainability in the cultivation, production and processing of cocoa and other materials used in chocolate production. Lindt and Sprungli, with nearly 170 years of history and Swiss tradition, is regarded as the global leader in the premium chocolate category, offering high quality products in more than 120 countries.