Fairtrade International, a nonprofit based in Bonn, Germany, in conjunction with Grameen Foundation, a US-based nonprofit, and Incofin Investment Management, a Belgian for-profit microfinance investment manager, has launched the Fairtrade Access Fund, which will fund long-term loans to farmer to finance investments such as newer equipment. The Fairtrade Access Fund has set a goal of raising USD 8 million to USD 12 million in its first year and USD 25 million during its second year. The fund will seek donations from development organizations and from institutional investors. Starbucks, a US-based coffee retailer, initiated the fundraising with a donation of USD 1.3 million. The fund is slated to launch in Latin America by the end of 2012 and extend into Africa and Asia in later phases.
Fairtrade International unites three producer networks-Fairtrade Africa, Cordinadora Latinoamericana y del Caribe in Latin America and the Caribbean; and Network of Asian Producers in Asia- and 21 labelling initiatives across Europe, Japan, North America, Mexico, Australia and New Zealand. As of 2010, Fairtrade International reported assets of USD 6.1 million.
By Brett Cohen, Research Associate
About Incofin Investment Management
Incofin Investment Management is a private Belgian company that develops and manages funds investing in microfinance institutions (MFIs) in developing countries. As of June 2011, Incofin manages six facilities with total outstanding investments of USD 425 million in 39 countries. About Grameen Foundation The Grameen Foundation, a nonprofit based in Washington, DC, aims to help poor people access financial and information services and business opportunities. Though it is independent of the Grameen Bank, Dr Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total investments of USD 19.0 million and total assets of USD 27.3 million as of March 31, 2011.
About Fairtrade Africa
Fairtrade International, a nonprofit based in Bonn, Germany, unites three producer networks- Cordinadora Latinoamericana y del Caribe in Latin America and the Caribbean; and Network of Asian Producers in Asia- and 21 labelling initiatives across Europe, Japan, North America, Mexico, Australia and New Zealand. As of 2010, Fairtrade International reported assets of USD 6.1 million.
Sources and Additional Resources
Fairtradeafrica.net press release: “Fairtrade Makes Long Term Loans a Reality”
http://www.fairtradeafrica.net/news/fairtrade-makes-long-term-loans-a-re…
Fairtradeafrica.net press release: “Who we are”
http://www.fairtradeafrica.net/about/who-we-are/
MicroCapital.org story, April 4, 2012: “MICROCAPITAL BRIEF: Microinsurance Reaches 3m in the Philippines, More Expansion Predicted in Microcredit as Commercial Banks Enter Microfinance”
https://www.microcapital.org/microcapital-brief-microinsurance-reaches-3m…
MicroCapital.org story, June 1, 2012: “MICROCAPITAL BRIEF: Allianz to Use Satellites to Insure Small-scale Farmers in Asia”
https://www.microcapital.org/microcapital-brief-allianz-to-use-satellites…
MicroCapital Universe Profile: Incofin Investment Management
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Inc…
MicroCapital Universe Profile: Grameen Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gra…
Browse the MicroCapital Universe and add your entry to the wiki at:https://www.microcapital.org/microfinanceuniverse/
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