Rabobank AGRI3 Fund 'Chongqing Chilli Pepper' Project
Rabobank launched Asia’s first Agri3 Fund project in Chongqing, offering a CNY 70 mln loan over three years to help 80,000 smallholder farmers shift to sustainable pepper farming. Linked to a chili processing plant, the initiative provides financing, training, inputs, and a guaranteed floor price. It aims to boost incomes, promote sustainability, and set new standards for pepper quality in China.
In 2017, UN Environment Programme (UNEP) and Rabobank announced an ambitious Partnership to unlock USD 1 billion in capital for Forest Protection and Sustainable Agriculture. The first concrete instrument of this partnership is the AGRI3 Fund, and over the course of 2018, the partnership expanded to include the Dutch development bank (FMO) and the Sustainable Trade Initiative (IDH). Facilitating collaboration between public and private parties to speed up investment in farms that pursue more sustainable practices including forest protection and improving rural livelihoods, the Fund bridges the gap between the needs of farmers and the limitations of banks by providing de-risking financial instruments and tailor-made technical assistance.
In 2021 Rabobank Shanghai Branch launched the Chongqing chili pepper project with the Agri3 Fund to improve rural livelihoods and transit to sustainable agriculture in China. The project won the Pioneer in Advancing Rural Revitalization Award of the 5th Sustainable Business Awards of European Chamber of Commerce in China (EUCCC).