News Releases

NEW YORK--(BUSINESS WIRE)--The ACE Group today announced that the ACE Charitable Foundation is making a three-year, $600,000 grant to CARE, one of the world’s largest humanitarian aid agencies, to help create and support the Sustainable Andean Agriculture program in Peru.

The program, designed by CARE, offers an innovative response to the global food crisis by training and organizing local farmers to increase the production and quality of native foods, resulting in improved nutrition and higher incomes that will enable them to pay for basic needs. Focusing on the Ayacucho region of Peru, the program is expected to reach 800 farming families, or about 4,000 people in total.

“ACE is committed to supporting programs that make a difference in communities and regions in which we operate around the world,” said Jorge Luis Cazar, President and Chief Executive Officer of ACE Latin America. “We are pleased to partner with CARE in implementing this critical program, whose lasting benefits will directly affect thousands of rural Peruvians, helping to improve both the quality of the food supply and the quality of life for families in the region.”

The Sustainable Andean Agriculture program targets a particularly vulnerable, rural area of Peru, where 74% of the population lives on less than $2 a day, a third suffer from chronic malnutrition and residents rely on small-scale farming to survive. Due to poor cultivation practices and low awareness of pest and disease control methods, many farmers experience substandard harvests, which contribute to the ongoing cycle of poverty and malnutrition. Without technical assistance, farming has been inefficient and farmers do not have access to credit or attractive markets to improve production and sales.

Over the grant period, CARE will support farmers by providing training in improved, sustainable farming practices, and by organizing and building the capacity of farmers’ associations for increased negotiating power and access to credit.

“CARE is delighted to partner with ACE in bringing innovative solutions to the problem of chronic malnutrition in Ayacucho,” said Helene D. Gayle, M.D., M.P.H., president and CEO of CARE. “With ACE’s support, farmers will be able to diversify into high-yield, nutritious varieties such as quinoa, amaranth, and native potato, that are adapted to the Andean climate and require much less fertilizer than most current crops.”

This is the third time in recent years that ACE and CARE have teamed up on projects worldwide, and the second time in Peru. ACE provided a grant and employee contributions totaling $275,000 in 2005 to support CARE’s relief efforts after the Asian tsunami, and donated $50,000 to CARE’s relief response following the 2007 earthquake that struck Peru.

CARE is one of the world’s largest humanitarian aid agencies and a leading organization in the fight against poverty, providing assistance in nearly 70 countries. CARE tackles underlying causes of poverty so that people can become self-sufficient. Recognizing the women and children suffer disproportionately from poverty, CARE places special emphasis on working with women to create permanent social change. Women are at the heart of CARE’s community-based efforts to improve basic education, prevent the spread of HIV, increase access to clean water and sanitation, expand economic opportunity and protect natural resources. CARE also delivers emergency aid to survivors of war and natural disasters, and helps people rebuild their lives.

The ACE Charitable Foundation assists less fortunate individuals and communities around the world in achieving and sustaining healthy lives. Through a combination of Foundation grants and employee volunteer initiatives, ACE focuses its support in the areas of education, the environment, and poverty and health.

The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE: ACE), the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at www.acelimited.com.

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