CnC MASPD Jiva Farmer Financing Pilot

pending

 Jiva Ag Pte Ltd (“Jiva” or “the company”) (https://www.jiva.ag/) was launched in 2019 as a wholly owned subsidiary of Olam Group Ltd (“Olam”). Jiva is a digital platform that enables participating farmers to (i) buy agricultural inputs providing easy access to assortment, ordering, and delivery service, (ii) access a cashless facility to finance agricultural inputs during the season and pay later after payment for the harvest, (iii) sell produce directly to buyers with offtake managed by micro-collectors (MC), and (iv) receive AI-powered agronomic advice. Jiva started its operations in Indonesia in early 2021 focusing only on corn-producing areas and farmers in South Sulawesi before entering East Java Province in late 2021. Up to the end of Q1 2022, it had reached over 12,000 transacting farmers and 1,000 transacting MCs with the total volume of corn procured being 50,000 tons. Jiva is working on expanding its operations to additional corn-producing provinces in Indonesia and across other crops. IFC is committing US$2.5 million of upstream funding under an Upstream Co-Development Agreement with Jiva to further develop, strengthen, and expand the company’s business model, including strengthening its environmental & social (“E&S”) approach and supporting the structuring of farmer and MC financing operations (the “Project”). The total Project cost amounts to US$10.2 million and will be co-funded by Jiva.