The Americas region of InterContinental Hotels Group (IHG), a UK-based international hotel company, partnered with Tropical Agricultural Research and Higher Education Center (CATIE) by funding a microcredit program for small farmers of Costa Rica. In the first phase of the program, the initial donation of USD 10k from IHG to CATIE became available for small farmers of rural Costa Rica to borrow for uses such as enhancement of operations. IHG has previously funded two other microcredit programs of village banks in Mexico that provide business loans for women. It also has made a commitment for another microcredit initiative in 2008.
IHG is one of the leading hotel companies of the world with most number of rooms in the industry. IHG reported the annual revenue of USD 4.4 billion in 2006.
CATIE is an international institution founded in 1973 through an agreement between Inter-American Institute for Agricultural Sciences and the Costa Rican government. It aims to contribute to the rural poverty reduction by promoting competitive and sustainable agriculture and natural resources management and through research and higher education. CATIE’s 2006 executed budget exceeded USD 18 million, 68% percent of which accounts for project and productive activities funds. CATIE has 14 member countries from Central and South America. The headerquarter of CATIE is in Turrialba, Costa Rica.
Additional Resources:
IHG: IHG Creates Unique Partnership to Alleviate Poverty and Protect the Environment
IHG: Company Profile
CATIE: Institution Profile
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