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Mitsubishi Corporation Supports First CSR Project in Cooperation with the Inter-American Development Bank

Tokyo, Japan - Nov 11, 2009 (PRN): Mitsubishi Corporation (MC) is please to announce its support for the social and economic development of small-medium rural agricultural producers in the state of Bahia, Brazil for the second stage of the existing project funded by the Inter-American Development Bank (IDB).

MC has been engaged in various corporate social responsibility (CSR) projects in the area of education and environmental protection in Latin America over the years. As per the MOU signed last October between MC and IDB aimed at fostering cooperation in CSR initiatives, IDB and MC have actively exchanged information,and discussed various projects in Latin America. Through this process, MC and IDB have identified the project which Multilateral Investment Fund (MIF), an IDB organization that promotes private sector development in Latin America, has been engaged in by supporting small-scale agricultural producers in the southern part of the state of Bahia. MC will support the second phase of the project to expand the scope and area for integrated and sustainable development activities for the environmentally protected region.

The project will be executed by IDES (Institute de Desenvolviment Sustentavel do Baizo Sul da Bahia), an NGO under the umbrella of Odebrecht Foundation (OF), an affiliate of Brazil's Odebrecht Holdings. The project will help small-scale agricultural producers gain access to markets that promote production while also valuing environmental conservation and provide them with the support for self-sustainable business model through education and training.

MIF began the first phase of this project in February of 2007 and has demonstrated productivity improvement and established market access while protecting the region's environment. The second phase aims to expand coverage area and diversify agricultural production with commodities such as cacao, banana, rubber, and palm, etc.

MC is funding the project with an initiatial contribution of US $150,000 and plans on mobilizing similar resources over the next three years, subject to annual review.



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