IDB Invest Supports Climate-Hit Honey Producers in Mexico
IDB Invest, a member of the IDB Group, has provided a revolving credit line worth up to $15 million to Naturasol and Miel Mex, to promote their expansion strategy. This will support production and employment, in addition to strengthening their value chain, fundamental to their growth strategy, which will require an increase in the acquisition of raw materials. The two sister companies are family-owned enterprises engaged in the development, processing, and marketing of food products such as nuts, honey, and jams.
In addition, IDB Invest will develop technical assistance for more than 400 beekeepers in 14 locations in Yucatán that provide honey to the two companies, directly benefiting almost 11,500 hives that were impacted by heavy floods and prolonged periods of drought, as a result of climate change. This technical assistance will also develop a climate resilience investment plan for producers affected by the 2020 floods there.
"Our 2025 Vision creates a critical path that allows us to design and implement innovative financing tools to help build climate-resilient economies and achieve sustainable and inclusive growth," said Ernesto Stein, IDB Group Representative in Mexico.
The technical support provided by the deal will allow the two companies to strengthen beekeepers in those communities, turning apiaries into sustainable productive sites where resources and production for future generations is guaranteed, as well as conserving and restoring biodiversity. IDB Invest's support also includes an important gender component, given that 20% of the beekeepers that will be benefited are women.
The processes to be carried out will also allow more efficient management of bee pests and diseases, genetic improvement and, in general, a comprehensive and sustainable management of the hive, accompanied by a culture of prevention and care of hives in the face of adverse weather events.
The application and implementation of the investments will allow the current performance and profitability indicators to report an increase in productivity. Producers such as Naturasol and Miel Mex, along with other actors in the honey value chain, will benefit, in addition to the contribution of pollination services that bees provide to crops and ecosystems.
This deal is expected to contribute to three United Nations Sustainable Development Goals (SDGs): Zero Hunger (SDG2), Decent Work and Economic Growth (SDG 8) and Partnerships to Achieve the Goals (SDG17).
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $13.1 billion in asset management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Naturasol-Honey Mex
Miel Mex and Naturasol are two companies with a track record of more than 30 years in the food industry. We take care of and process the best quality of our products to offer the highest standard to our valued clients and consumers and take care of the most important thing we have: our people. We now have a little more than 800 collaborators, 4 manufacturing plants and we have grown solidly since 2017, doubling our size in a few years and improving profitability month after month and year after year with the help of our business partners, banks and other financial institutions.