The Inter-American Development Bank, its innovation-focused IDB Lab, PepsiCo, and the PepsiCo Foundation have announced a memorandum of understanding extending their public-private partnership in support of programs that drive social and economic growth in Latin America and the Caribbean.
Under the MOU, PepsiCo and its foundation will commit $6 million over five years in support of projects aimed at generating solutions in four areas of mutual interest: water access, inclusive recycling, sustainable agriculture, and economic recovery. All programs also will put an emphasis on women’s empowerment.
According to the UN Food and Agriculture Organization, there are 4.5 million women agricultural producers in Latin America and the Caribbean, but they earn 24 percent less on average than men and have less access to land ownership. Research shows that if women farmers in the region had the same access to resources as men, they could increase their yield between 20 percent and 30 percent, potentially reducing the number of food-insecure people in the world by a hundred and fifty million.
As part of the expanded partnership, IDB Lab and PepsiCo are launching a Next Generation Agriculture Fund that will work to identify challenges connected to gender issues within PepsiCo’s potato supply chains, with a focus initially on the Dominican Republic, Ecuador, and Guatemala.
“The partnership we have built with the IDB has been key to positively impact the lives of nineteen million people in Latin America and the Caribbean through investments of $17 million over fourteen consecutive years in the areas of water and sanitation, nutrition, sustainable agriculture, inclusive recycling, and support in natural disasters,” said PepsiCo chair and CEO Ramon Laguarta. “Today, PepsiCo reaffirms its commitment to Latin America and the IDB to reach more beneficiaries over the next five years.”
Source: GNN
