The Central American Bank for Economic Integration (CABEI) and International Coffee Organization (ICO) have joined forces to repair the damage of natural disasters and the coronavirus in Central America.
The unprecedented social and economic impacts of COVID-19 on living conditions, world economies, and supply chains have been devastating.
In addition, Honduras and Nicaragua faced two dramatic natural disasters in 2020 with hurricanes hitting their land and affecting their coffee producing areas, furthering the economic and humanitarian crisis.
Executive President of the CABEI Dante Mossi, Ambassador Iván Romero-Martínez, Ambassador Guisell Socorro Morales Echaverry, and ICO Executive Director José Sette have announced they will officially start building a resilient coffee value chain to mitigate climatic and pandemic challenges in Honduras and Nicaragua.
As a collaboration and partnership between the CABEI and the ICO, the assessment study will be the basis to develop, finance and implement a concrete program for helping the two countries to build a sustainable and inclusive recovery of coffee production.
The ICO engaged with the CABEI to fund a full appraisal of the impact of climate-related shocks in these countries and helped design a programme to address the challenges and build on existing opportunities to create a resilient and inclusive coffee sector.
To express solidarity with two of its Members, the ICO has responded by mobilising financial partners both from the public and private sector including ICO Members, other international organisations and donors, the private sector, regional organisations and financial institutions such as the Central American Bank for Economic Integration (CABEI) and the Inter-American Development Bank (IADB).
The ICO appealed to its partners to help rebuild resilience and promote recovery in the Central American region in the aftermath of the hurricanes, generating several actions in the field.
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