Asian Development Bank Sustainability Report 2018 by Asian Development Bank;

Author:Asian Development Bank;
Language: eng
Format: epub
Publisher: Asian Development Bank Institute
Published: 2018-08-15T00:00:00+00:00

Members of the Board of Directors meet Olam stakeholders in Timor-Leste (2018)

In 2017, the Asian Development Bank approved a $100 million private sector loan, complemented by a parallel $75 million loan from the Japan International Cooperation Agency, and $3 million technical assistance, for Olam, an agribusiness company with a presence in 70 countries. This will be used to finance Olam’s activities in Indonesia, Papua New Guinea, Timor-Leste, and Viet Nam. The Agricultural Value Chain Development Project promotes inclusive and sustainable agricultural value chains with high local value addition for a variety of products, including coffee, sugar, cashew, cocoa, and pepper. These products are brought from growers and village-level agents at farm gates, benefiting about 20,000 smallholder farmers in the four countries. Those whose products and practices meet Olam’s standards will benefit from attractive prices and gain access to new export markets where customers are willing to pay a premium for traceability and certification. Through the technical assistance, training will be provided in sustainable agriculture practices, including adaptation strategies for temperature increase and precipitation change, water harvesting and drip irrigation, integrated pest management, use of organic inputs, and pollution control.

Source: Asian Development Bank.

Photo: Joar L. Strand, Alternate Executive Director, Asian Development Bank.

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