€ 7 million to support smallholder cocoa producers in Côte d’Ivoire
17/12 Oikocredit’s recent new loans will help with exporting the 2020-21 cocoa production for up to 35,000 smallholder farmers.
Oikocredit is pleased to announce new loans to the following cocoa partners:
-
€ 3.5 million to Entreprise Coopérative Kimbe (Ecookim), a union of cocoa cooperatives and a cocoa exporter
-
€ 2.5 million to Ocean SA, a cocoa exporter
-
€ 1 million to Socak Katana, a cocoa cooperative.
Diane Potey, Oikocredit’s Investment Officer West Africa, said: “By providing smallholder cooperatives with access to affordable financing, Oikocredit supports the growing needs of smallholder farmers. In addition, we help our cocoa partners to strengthen their capacities in financial management, risk management and agricultural practices. Combining funding and capacity building is an important building block to achieve higher social impact in the cocoa sector.”