Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Walmart Foundation contributes over $10 million in funding to benefit 81,000 smallholder farmers

The new grants will improve smallholder farmer livelihoods in India over the next five years.

ET Online|
Aug 27, 2019, 04.35 PM IST
ET Online
Smallholders account for 80%of the total farming community and the pivotal part of the Government's stated aim to double farm income by 2022.
To strengthen the country's agricultural systems, support smallholder farmers and boost incomes, on Tuesday announced $4.8 million (approximately Rs. 34 crores) in grants to Digital Green and TechnoServe. This will help smallholder farmers have access to agriculture technology, training on sustainable farmer methods, enhanced access to formal markets, and skill and capacity building for farmer producer organizations (FPOs).

According to Karthleen McLaughlin, Walmart Foundation President and EVP, Chief Sustainability Officer, Walmart, it may sound like a truism, but it is important for businesses to take care of the needs of a society. We have the concept of shared value under which we aim to create value for communities.

Agriculture is an absolutely critical and we are strengthening the sector doing it in two ways. "Through our cash and carry business under Walmart and we have already committed to source 25% of our produce locally from small farmers. We see this as a benefit for our customers," said McLaughlin.

The second is under under through philanthropy. "We want to support small farmers and in September 2018 announced that we will invest $25 million in grants from Walmart Foundation," said McLaughlin.

Smallholders account for 80%of the total farming community and the pivotal part of the Government's stated aim to double farm income by 2022.

These grants are a part of the Walmart Foundation's commitment made in September 2018 to contribute $25 million (approximately Rs. 180 crores) over the next five years to improve farmer livelihoods in India. Separate from this commitment, Walmart India also announced it would grow its direct sourcing from farmers to 25 percent of produce sold in its Cash & Carry stores by 2023.

The Walmart Foundation's grant of $1.3 million (approximately Rs. 9 crores) to the Digital Green will help develop 'Farmstack', a digital data platform designed to provide better services for and enhance the livelihoods of Andhra Pradesh farmers, specifically targeting lower-income communities in farmer producer organizations.

TechnoServe will use its $3.5 million grant (approximately Rs 25.2 crores) to help develop and train up to 20 FPOs and facilitate market linkages by setting up procurement and aggregation systems. The program will also focus on training women smallholders to help expand their market options, as well as extend support to smallholder farmers on sustainable agriculture practices. With this funding, TechnoServe aims to boost incomes for 25,000 farmers (50% of whom will be women).

Also Read

Walmart Foundation announces $4.8 million grant to benefit over 81,000 smallholder farmers in India

Walmart Foundation supports IDEI irrigation project to raise incomes for 10,000 smallholder farmers

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service