AGCO Agriculture Foundation to Donate BRL 240,000 to Amigos do Bem institution
August 03 2023 - 10:02AM
Business Wire
Funds will be used to distribute cashew
seedlings and strengthen capacity of small farmers in the Northeast
of Brazil
The AGCO Agriculture Foundation (the “Foundation”), a private
foundation with the vision to prevent and relieve hunger through
sustainable agriculture development, will donate BRL 240,000
($50,000) to Amigos do Bem. The resources will support the “Cashew
Project: Transformation Seedlings”, which aims to develop small
cashew farmers in the northeast of Brazil, generating work and
income and positively impacting extremely vulnerable families.
The donation from the Foundation will be used to purchase and
distribute 30,000 fruit tree seedlings, fertilizers and farming
kits, as well as provide training, technical support and continuous
monitoring of small farmers in the northeast of Brazil. The
initiative will support 100 families, reaching more than 500 people
directly and indirectly, in addition to supporting the
neutralization of 500 tons of CO2 per year with the planting of
cashew trees.
“The cashew seedling initiative directly and positively impacts
small producers and the environment. Most importantly, it builds a
pathway into a guaranteed market for their crops," said Roger
Batkin, Chair of the Foundation. “This type of social impact
initiative is strongly aligned with the Foundation’s approach for
impactful programs that support food security and sustainable
agricultural development in rural communities.”
The cashew seedlings to be distributed to farmers will be
planted on their own land, with a guaranteed purchase of products
at market value, encouraging the role of Brazilian nut suppliers
and generating direct and indirect income opportunities.
“By supporting the initiative, we will contribute to
transforming the lives of small farmers and their families in the
northeastern hinterland, strengthening local agricultural
development in a sustainable way and promoting the autonomy and
empowerment of these communities,” emphasizes Rodrigo Junqueira,
Vice President Massey Ferguson and General Manager South
America.
Created in 1993, the nonprofit institution Amigos do Bem
promotes continuous education, job and income generation projects
and access to water, housing, and health. The social project
regularly aids 150,000 people throughout the northeast region of
Brazil, with a focus on eradicating extreme poverty. "The Cashew
Project started in 2018, with the distribution of surplus seedlings
from our own plantations so that small-scale producers could find a
source of income and subsistence. It ended up revolutionizing the
cashew nut chain in the region," comments André de Luca, Executive
Director at Amigos do Bem.
For the next five years, Amigos do Bem project goal is to
neutralize 2,300 tons of carbon by planting 150,000 cashew trees,
in addition to reaching around 420 farmers, generating income for
their families.
About AGCO
AGCO (NYSE:AGCO) is a global leader in the design, manufacture
and distribution of agricultural machinery and precision ag
technology. AGCO delivers customer value through its differentiated
brand portfolio including core brands like Fendt®, GSI®, Massey
Ferguson®, Precision Planting® and Valtra®. Powered by Fuse® smart
farming solutions, AGCO’s full line of equipment and services help
farmers sustainably feed our world. Founded in 1990 and
headquartered in Duluth, Georgia, USA, AGCO had net sales of
approximately $12.7 billion in 2022. For more information, visit
www.AGCOcorp.com. For company news, information, and events, please
follow us on Twitter: @AGCOCorp. For financial news on Twitter,
please follow the hashtag #AGCOIR.
About AGCO Agriculture Foundation
Founded by AGCO Corporation (NYSE: AGCO) in 2018, the AGCO
Agriculture Foundation is a private foundation with the vision to
prevent and relieve hunger. The Foundation promotes impact programs
that support food security, sustainable agricultural development
and build the necessary agricultural infrastructure in marginalized
farming communities. The Foundation is domiciled in Vaduz,
Liechtenstein and its operations are managed from Duluth, Georgia,
USA. For more information, visit
https://www.agcofoundation.org/.
About the NGO Amigos do Bem
For 30 years, the Amigos do Bem institution has been working to
transform lives in the northeastern hinterland, the poorest and
most isolated region in Brazil. Every month, 150,000 people, who
live in 300 villages in extreme poverty, are assisted with ongoing
projects in education, work and income, water, housing, and health.
We promote social inclusion and local development, meeting 12 of
the 17 UN Sustainable Development Goals. We created a Sustainable
Social Development Model and several initiatives with a positive
impact with the participation of almost 11,000 volunteers. For more
information, visit https://www.amigosdobem.org/
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Aryn Drawdy, Corporate Communications Director
Aryn.Drawdy@agcocorp.com
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