The Inter-American Development Bank, through its Multilateral Investment Fund, is collaborating with the Coca-Cola Co. to finance a project that will increase output and incomes of around 25,000 mango farmers in Haiti.
The bank will provide a USD3 million grant, while Coca-Cola will give USD3.5 million for the initiative, according to an IDB press release. The project will be implemented by TechnoServe, a U.S.-based nonprofit experienced in promoting agribusinesses in developing countries.
The project aims to improve yields, diversify production, and train farmers in proper harvesting and marketing. It will also help local investors put up their own processing plants to produce dried fruit or fruit juice from non-export-grade mangoes.