PepsiCo, the PepsiCo Foundation and the Inter-American Development Bank Enhance a Strategic Partnership to Deliver Next Generation Solutions Throughout Latin America
MEDELLIN, Colombia, July 14, 2016 /3BL Media/ - PepsiCo, thePepsiCo Foundation, and the Inter-American Development Bank (IDB) are proud to announce the renewal of their five-year, private-public partnership (PPP) aimed to spur social and economic growth in Latin America and the Caribbean (LAC).
Having benefited more than one million people in 12 countries across the region, the previous five-year partnership agreement marked the first time a private-sector organization participated in the IDB's innovative regional trust funds. Since then, the partners have collaborated to generate evidence for innovations in areas including recycling, water and sanitation, youth development, sustainable agriculture, disaster relief and recovery, and nutrition.
Through an agreement signed by PepsiCo, the PepsiCo Foundation and the IDB, the public-private partnership is being renewed for another five years to deliver programs that combat poverty and increase economic self-sufficiency. In particular, the expanded partnership seeks to develop activities in the areas of access to water and nourishing solutions, efficiency in agriculture, and social innovation.
The renewed partnership will start off with “From Source to Home,” a program focused on water and sanitation, where a US $5 million dollar grant from the PepsiCo Foundation will work to improve the lives of approximately 850,000 people by 2025. To do so, the partners will collaborate to:
- Achieve universal and equitable access to safe and affordable water to people living in rural and disperse communities, focusing on benefitting women and girls.
- Launch a regional center for applied water resources management through the Hydro-BID program, to reduce the number of people suffering from water scarcity and advance climate change adaptation efforts.
“Through these collaborations, we are pioneering new approaches to generate impact in a region whose future looks brighter every day,” said the President of the IDB, Luis Alberto Moreno. “Moving forward, we will remain committed to working together, guided by an integrated approach which will continue to catalyze growth and progress, improving lives in the Latin American and Caribbean region for years to come.”
At the public launch of the program, Laxman Narasimhan, CEO PepsiCo Latin America, said “We’re proud of the long and amazing legacy of our business across 54 Latin American markets. We remain focused on this strategic sector and to the strong partnerships we currently have and continue to build. We believe the renewal of our PPP with the IDB will help us provide a long-term and positive imprint on society and the environment in the sector.”
PepsiCo products are enjoyed by consumers one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than US $63 billion dollars in net revenue in 2015, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than US $1 billion dollars each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal to deliver top-tier financial performance while creating sustainable growth and shareholder value. In practice, Performance with Purpose means providing a wide range of foods and beverages from treats to healthy eats; finding innovative ways to minimize our impact on the environment and reduce our operating costs; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities where we operate. For more information, visit www.pepsico.com.
About PepsiCo Latin America
PepsiCo Latin America is a division that includes all of its beverage, food and snack businesses in Latin America, comprising 54 emerging and developing markets. Our beverage, food and snacks businesses in Latin America include snacks, beverages, cookies & crackers and nutrition categories, which generated US $8.2 billion dollars in net revenue in 2015. Our Beverages business in the region operates through 13 major bottlers.
About PepsiCo Foundation
Established in 1962, the PepsiCo Foundation is the philanthropic anchor of PepsiCo, collaborating with non-profit organizations to develop innovative solutions to challenges facing underserved communities around the world. In support of PepsiCo’s commitment to Performance with Purpose, the PepsiCo Foundation provides grants to eligible non-profit organizations to advance progress in the fields of Human, Environmental, and Talent Sustainability. For more information, visit: www.pepsico.com/Purpose/Global-Citizenship.
About the IDB
The Inter-American Development Bank is a leading source of long-term financing for economic, social and institutional projects in Latin America and the Caribbean. Besides loans, grants and guarantees, the IDB conducts cutting-edge research to offer innovative and sustainable solutions to our region’s most pressing challenges. Founded in 1959 to help accelerate progress in its developing member countries, the IDB continues to work every day to improve lives.