Heifer Impact Capital (HIC), a leading initiative in the impact investment ecosystem, under Heifer International, will invest together with Heifer Labs and Heifer Mexico $420,000 through our platform.
Ethichubbers, today we tell you one of the most relevant news in all these years of life of EthicHub. And one of the most exciting, too. Because this partnership allows us to dream of scaling our technological solution to unsuspected levels and reach many more small producers around the world.
Heifer's strong involvement in what we are all building around here, gives us the possibility of materializing similar agreements in the future with such relevant and prestigious entities as our new partner. To go into detail we tell you that this partnership has involved three entities under Heifer International: Heifer Impact Capital, Heifer Labs and Heifer Mexico. And to put things in context and understand the dimension of the agreement, now a brief overview of Heifer International. We are talking about an internationally recognized NGO that, founded in 1944, has served more than 40 million farmers and local producers around the world, with the stated purpose of strengthening local economies and building secure livelihoods and decent incomes. As we often tell you, when you share goals, synergies, agreements and collaborations flow very naturally. It is only a matter of time and will, and in this case it has been more than a year of conversations, meetings and pilots with technology.
The investment announced in our platform will be used to finance small coffee producers in Chiapas, Mexico. Specifically to cooperatives participating in the Beyond Coffee Project II, an initiative of Heifer International. Only now, as Jorge Barrigh, Heifer Impact Capital's regional director for the Americas, points out, "investing with EthicHub's platform will allow us to address specific challenges and obstacles present in delivering efficient, streamlined capital to small producers in the last mile, in rural Latin America." Because investing through our platform will significantly streamline the availability of and access to financing for cooperatives, and at a much lower interest rate than today. In addition, the benefits and features of blockchain technology, will provide a more transparent and traceable process of operations. And we cannot overlook the interest in the innovative system designed to achieve collateral for farmers, which is often the most complicated obstacle to solve. And here, the most activist and committed ethichubbers will have thought about the usefulness of our ethix token and how we use it to provide collective collateral to farmers.
Many thanks to all of you for being part of EthicHub and to the ethixholders who contribute their tokens for the benefit of farmers or in the compensation system to reinforce the security of our ecosystem.
EthicHub is a ReFi (Regenerative Finance) protocol that helps unbanked farmers access capital at low interest rates in a win/win model where all stakeholders benefit from the interaction. Its crowdlending platform was launched in June 2018, and to date it has brokered more than $4M in microcredits to more than 600 families in 6 countries.
