LatinNews Daily - 15 February 2022

In brief: BCIE announces coffee sector support for Honduras and Nicaragua

* The Central American development bank (BCIE) has approved a non-reimbursable technical cooperation grant of US$50,000 for a study entitled “Creation of a resilient coffee value chain to mitigate the effects of climatic catastrophes and the Covid-19 pandemic in Honduras and Nicaragua.” According to a BCIE press release, the results will diagnose the impact of the Eta and Iota cyclonic events, as well as those of the pandemic on the coffee sector in both countries, so that a project proposal can be formulated for each country to promote its resilience. The BCIE highlights that coffee is one of the most important export products in Central America, providing a strong source of foreign exchange and having a substantial effect on the GDP of Honduras and Nicaragua. According to BCIE it is also the main source of income for some 35,000 Nicaraguan producers and over 140,000 Hondurans. The non-reimbursable technical cooperation will be executed by BCIE in coordination with Honduras’s national coffee council (CONACAFÉ) and Nicaragua’s ministry of development, industry and commerce (MIFIC); it is estimated that the proposals developed as a result of the diagnosis will be available in September 2022.

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