Starbucks More Than Doubles Size of Coffee-Farmer Loan Program
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Starbucks Corp. is more than doubling the size of a loan program for farmers that it started seven years ago to help maintain its supply of ethically sourced coffee.
The company will commit an additional $30 million in its Global Farmer Fund program, which debuted in 2008 and has provided $20 million of loans to more than 40,000 farmers in eight countries. The new infusion of cash will be invested by 2020, Seattle-based Starbucks said in a statement Monday.