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.
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 Walmart.org 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).