IDB Helps Boost Sunflower Production in Mexico

    Thousands of small sunflower producers in Mexico are expected to benefit from a supply chain project initiated by a local financial institution with the help of the Inter-American Development Bank. IDB will provide a partial credit guarantee of USD5 million to help Agrofinanzas S.A. provide up to 2,000 microloans to sunflower farmers.

    The project is part of a broader initiative to boost small-scale sunflower production in Mexico. The loans provided by Agrofinanzas S.A. are designed to help producers purchase sunflower seeds and expand their production, according to a news release from IDB.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.