Calvert Impact Capital Announces the Closing of a $5 Million Loan to One Acre Fund; Capital to Benefit Small Farms in East Africa
Loan Provides a Critical Source of Credit to Help Small-Scale Farmers Establish Pathways to Greater Prosperity
BETHESDA, Md., August 7, 2018 (Newswire.com) - Calvert Impact Capital (formerly Calvert Foundation), the mission-driven investor dedicated to creating a more equitable and sustainable world, announced today the closing of a $5 million loan to One Acre Fund, a non-profit social enterprise that supplies financing and training to support smallholders in East Africa (small farms that rely mainly on family labor). Calvert Impact Capital is lending to One Acre Fund to purchase agricultural and clean energy products, which will be provided to farmers on credit. Over the next three years, One Acre Fund expects to reach more than one million farmers, pilot programs in new countries, and scout out several other country locations in Asia and Africa.
Most small-scale farmers do not have access to credit, high-quality seed & fertilizer, agricultural training, and fair market prices. One Acre Fund’s unique services were developed by working directly with farmers in the communities in which they operate. Their approach is a cost-effective and scalable way to help improve the lives of farm families across East Africa.
“Smallholder farmers need improved access to high-quality inputs, financing, and agricultural training to achieve food security and prosperity in their homes,” said Jenya Shandina, senior manager at One Acre Fund. “Our partnership with Calvert Impact Capital will enable us to deliver services to more farmers, helping create futures of big harvests, healthy families, and rich soils.”
“This is a great opportunity for us to increase our exposure to the sustainable agriculture sector and strengthen our relationship with One Acre Fund, an organization with deep sector and regional expertise,” said Songbae Lee, Director of Investments at Calvert Impact Capital. He added, “We are excited to provide capital to enable them to expand the products they can offer to communities and increase their impact on the ground.”
About One Acre Fund
One Acre Fund is a nonprofit social enterprise that supplies smallholder farmers with the financing and training they need to grow their way out of hunger and poverty. Through a complete bundle of services offered on credit, the organization distributes quality farm inputs to the remote areas where farmers live, trains farmers on agricultural techniques, and educates them on how to minimize post-harvest losses and maximize market prices. The organization currently serves more than 600,000 farming families in six countries in Sub-Saharan Africa. Follow @oneacrefund or visit www.oneacrefund.org for more information.
About Calvert Impact Capital
Calvert Impact Capital (formerly Calvert Foundation) invests to create a more equitable and sustainable world. Through our products and services, we raise capital from individual and institutional investors to finance intermediaries and funds that are investing in communities left out of traditional capital markets. During our 22-year history, we have mobilized nearly $2 billion of investor capital. Calvert Impact Capital has recently expanded our services to include loan syndications, where we originate, structure and administer loans for institutional and accredited investors seeking environmental and social impact. Since the launch, we have syndicated and/or administered more than $165 million of capital across ten transactions. More at www.calvertimpactcapital.org.
For media inquiries:
Andrew Parrucci, Senior Communications Officer
Source: Calvert Impact Capital