Volunteer work is part of PIMCO’s effort to create opportunities in developing countries
Newport Beach, California (August 24, 2015)
-- The PIMCO Foundation, the charitable arm of global investment management firm PIMCO, has again partnered with TechnoServe to send four volunteers from
PIMCO to work alongside coffee farmers to help build sustainable small businesses.
The project is part of PMCO’s Emerging Enterprise Program (EEP), launched in 2011 in conjunction with TechnoServe, an international NGO that promotes
business solutions to reduce poverty. The EEP’s primary aim is to encourage entrepreneurship and create opportunity in developed countries.
The PIMCO Foundation and TechnoServe support the development of the specialty coffee and cocoa value chains, providing sustainable and lucrative business
opportunities for poor Peruvian farmers. Specifically, with funding from the PIMCO Foundation, TechnoServe provides technical and business support to a
total of 6,000 smallholder farming families in San Martín to produce specialty coffee or cocoa on 10,200 hectares of land, and establish links to major
“Our firm encourages skills-based volunteering,” said Douglas Hodge, PIMCO CEO. “Through PIMCO’s Emerging Enterprise Program, employees participate in a
cross-border global pro bono program, working with local entrepreneurs, and sharing their knowledge to help others in developing countries advance projects
in their communities.”
Volunteers will spend six weeks conducting interviews, identifying input suppliers and helping develop the most appropriate model to establish a supplier
financed fertilization scheme that will allow farmers to improve their productivity.
“Since our partnership began, TechnoServe and PIMCO have collaborated on high-skill projects in Latin America that deliver lasting value to TechnoServe's
beneficiaries. Our partnership is creating powerful change for those we assist in developing countries,” said Andrei Belyi, Regional Director, Latin
America & Caribbean, for TechnoServe.