Local firm receives Dutch funding to develop sustainable coffee value chain

Society – Economy - Ngày đăng : 17:44, 15/08/2024

The Netherlands’ The & GREEN Fund unveiled plans on August 15 that it will provide up to US$25 million in funding to Phuc Sinh Corporation, one of the key Vietnamese coffee and pepper exporters, to develop a deforestation-free coffee value chain in a sustainable manner.

local firm receives dutch funding to develop sustainable coffee value chain picture 1 — The & GREEN Fund provides US$25 million in funding to Phuc Sinh Corporation to develop a deforestation-free coffee value chain (Photo: VNA)

This marks the first stage of investment by The & GREEN Fund in a Vietnamese enterprise so far, opening up sanguine prospects for the Vietnamese agricultural sector as it works to attract sustainable investments from the international financial market.

Phan Minh Thong, chairman of the Board of Directors of Phuc Sinh JSC, said that the funding will play a crucial role in the firm’s sustainable development strategy.

The company is fully committed to not only improving product quality, but also to ensuring that the production procedure will contribute to improving environmental protection, noted the CEO.

The partnership with The & GREEN will help the company to go further on the path of sustainable development, thereby bringing about long-term value to both the company and society, he added.

The & GREEN Fund is managed by SAIL Investments, a global sustainable investment manager based in the Netherlands. The fund invests to prove that financing inclusive, sustainable, and deforestation-free commodity production can be commercially viable and replicable.

VOV