Dutch fund awards major grant to Vietnamese coffee producer

The Dutch Fund for Climate and Development (DFCD) has granted Phuc Sinh Corp, a leading coffee processor and exporter in Vietnam, a substantial aid package of 575,000 EUR (630,786 USD) to support its Environmental, Social, and Governance (ESG) initiatives in the coffee production, processing, and export chain. This grant, which includes 75% in cash and technical support, is the largest ever given to a Vietnamese company by the DFCD. The DFCD, backed by a 160 million EUR budget from the Dutch Government, aims to enhance the resilience of communities and ecosystems vulnerable to climate change, with a focus on clean water, environmental sanitation, forestry, and sustainable agriculture. Phuc Sinh Corp has been recognized for its pioneering role in obtaining the Rainforest Alliance (RA) certification, and its General Director, Phan Minh Thong, has announced plans to expand the number of households producing sustainable coffee and develop a traceability system to ensure transparency and integrity within its supply chain. With the support of the DFCD, Phuc Sinh Corp aims to comply with the European Union Deforestation Regulation (EUDR) to maintain a sustainable flow of agricultural trade and ensure farmers livelihoods. In addition to the DFCD grant, Phuc Sinh Corp has secured a 25 million USD investment from the Netherlands The & GREEN Fund to drive the transformation of the coffee value chain into a sustainable, non-deforestation model. This significant boost to Vietnam s sustainable coffee industry demonstrates the commitment of both the DFCD and Phuc Sinh Corp to promoting environmentally responsible practices and supporting the livelihoods of coffee farmers.

Source: en.vietnamplus.vn
Published on 2024-10-04

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