`World Bank Member to Provide Small Tunisian Growers With Advisory Services and Training - Olive Oil Times

World Bank Member to Provide Small Tunisian Growers With Advisory Services and Training

Jul. 29, 2021
Lisa Anderson

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The International Finance Corporation (IFC) announced ear­lier this month that it had approved a €22 mil­lion loan to Tunisian pro­ducer and bulk exporter, the Cho Group.

Along with the loan, the United States-based mem­ber of the World Bank Group said it would fur­ther com­mit to pro­vid­ing small-scale grow­ers within the producer’s sup­ply chain with advi­sory ser­vices.

Supporting a com­pany like Cho and the thou­sands of farm­ers who rely on it for their liveli­hoods will help cre­ate jobs and rekin­dle eco­nomic growth as Tunisia recov­ers from Covid-19.- Georges Joseph Ghorra, Tunisia rep­re­sen­ta­tive, IFC

The IFC will also pro­vide train­ing on sus­tain­able prac­tices to smaller pro­duc­ers among Cho’s sup­ply chain of 144,000 farm­ers to boost pro­duc­tion and lessen the impact of extreme weather events.

A 2018 World Bank report noted that cli­mate change, result­ing in higher tem­per­a­tures and spo­radic rain­fall, makes Tunisia more drought-prone.

See Also: U.K. Drops Tariffs on Tunisian Olive Oil Imports After Signing Trade Deal

Low rain­fall con­tributed to Tunisia’s olive oil yield plum­met­ing from a record-high 350,000 tons for the 2019/2020 sea­son to an esti­mated 140,000 tons the fol­low­ing crop year.

The IFC train­ing ini­tia­tive fol­lows on the heels of recent attempts to pro­mote Tunisian olive oil on the global stage by dig­i­tal­iz­ing export autho­riza­tions and by label­ing exported oils to indi­cate their ori­gin dis­tinctly.

Tunisia and Turkey are the two largest olive oil pro­duc­ers out­side of the European Union. The lat­ter is the world’s largest exporter of organic olive oil, yet global aware­ness of their oil is com­par­a­tively low due to most of their exports com­ing in bulk.

Supporting a com­pany like Cho and the thou­sands of farm­ers who rely on it for their liveli­hoods will help cre­ate jobs and rekin­dle eco­nomic growth as Tunisia recov­ers from Covid-19,” Georges Joseph Ghorra, the IFC’s res­i­dent rep­re­sen­ta­tive in Tunisia, said about the loan.

Cho, which is Costco’s sole sup­plier of bulk olive oil for restau­rants, also sup­plies bulk olive oil to var­i­ous indus­tries. Their Terra Delyssa and Origin 846 brands earned three Silver Awards at this year’s NYIOOC World Olive Oil Competition.

This part­ner­ship with IFC will help Cho grow and fur­ther pro­mote our brand, Terra Delyssa, cre­at­ing oppor­tu­ni­ties in the regions that need them most,” said Rym Makhloufi, the company’s deputy gen­eral man­ager.





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