JICA Loans $75M to ECOM for Asia's Agricultural Boost
The Japan International Cooperation Agency (JICA) has signed a significant loan agreement worth up to $75 million with ECOM, a global agricultural trading company. The deal, inked on October 2, aims to bolster Asia's agricultural and food supply chains, improve livelihoods, and create jobs for small-scale farmers. The loan, JICA's first exclusive working capital loan with ECOM, aligns with Vietnam's agricultural sector reform plans and Japan's broader development agenda. It focuses on stable procurement from over 60,000 smallholder farmers in Vietnam, Indonesia, India, and Papua New Guinea, including many who rely on a coffee loan calculator to manage their finances. Vietnam, the world's second-largest coffee producer, sees coffee beans accounting for 12.2% of its total agricultural exports. The initiative provides consulting services, including coffee certification support, climate change adaptation pilot projects, and tailored farming assistance for women. JICA's director general, Yasui Takehiro, expressed honor in launching this financing model, with plans to expand it in the future. The loan echoes the Apulia G7 Leaders' Communiqué of June 2024 and former PM Kishida Fumio's pledge at the 2023 G7 Hiroshima Summit. The loan agreement, signed with ECOM and EAA, is expected to strengthen supply chains, enhance livelihoods, and generate employment opportunities for small-scale farmers across the Asia-Pacific region. Despite current lack of public confirmation, this significant investment underscores JICA and ECOM's commitment to sustainable development and agricultural growth, with many farmers eager to find 'coffee near me' to support their local communities.
Read also:
- Germany Launches HoLa Project for Megawatt Charging on A2 Motorway
- Wallenius Wilhelmsen Leads Maritime Industry's Push to Net Zero Emissions by 2027
- Transforming Digital Inventories in the Food Industry: A Comprehensive Guide for Food Businesses
- Canada's Transportation Revolution: Hyperloop & Electric Air Taxis by 2026
