(AGRI RESOURCES) - Agri Resources (Mauritius) and ADD-OI, have signed an MoU to collaborate for the development of a Sustainable vanilla supply chain in Indian Ocean.

With the engagement of the Malagasy government, and support of the United Nations Development Programmes, the agreement was signed in Antananarivo, Madagascar, at the first Indian Ocean Sustainable Development Conference on the 4^th and 5^th of November, 2022.

The agreement includes projects aiming to contribute to the environmentally sustainable management of living natural resources and land use, as well as the socioeconomic advancement and empowerment of farmer communities on the islands

The Indian Ocean Sustainable Development Conference (ADD-OI, Assises du Développement Durable de l’Océan Indien) took place in Antananarivo on November 4^th and 5^th , 2022, as part of the IOC Presidency by Madagascar, and in response to the commitment made by the eight islands: Madagascar, Mayotte, Comoros, Mauritius, Seychelles, Reunion, Maldives, and Zanzibar, to actively fight climate change through concrete, targeted projects involving the eight islands as well as three partner countries: Morocco, the United Arab Emirates, and India. The conference is funded by the UNDP and the EU and supported by the Government of Madagascar, as well as major impact investors and DFIs such as PFAN, AfDB, IFC, IFAD .

Agri Resources Group represented by Agi Resources (Mauritius) was given priority to collaborate for the development of a Sustainable vanilla supply chain in the Indian Ocean in partnership with the involved nations.

The partnership between ADD-OI and Agri Resources includes projects for sustainable agriculture, land restoration, agroforestry, and preservation of biodiversity, as well as the creation of local employment and economic opportunities and training for the local communities. These long-term projects have the ability to create direct profitability and benefit from the Agri Resources Group’s experience in performing these activities.

Present on 3 islands, the core business of Agri Resources (Mauritius) and its subsidiaries, includes the cultivation, sourcing, processing, trading and commercialization of vanilla and spices.

The group has been developing in the Indian Ocean since 2015, and today manages 3 plantations (total of 145ha), two processing and export facilities, an Essential Oils distillery, and works with a network of over 1700 smallholder farmers.

The MoU identifies two priority areas for strategic collaboration: the sustainable management of living natural resources and land use and the socioeconomic advancement and empowerment of farmer communities on the islands.

“We are very grateful and humbled by the overwhelmingly positive response towards our projects.  Joining forces with ADD-OI and UNDP, as well as the financial and development institution who are willing to follow us is an opportunity to amplify the impact of our operations on the environment as well as the communities we serve.», said Shalina Dhallapah, Director of Agri Resources (Mauritius).

The agreement between Agri Resources Group and ADD-OI takes immediate effect. The projects worth 8.5M EUR will be deployed in Madagascar and Mauritius in 2023.