By Dieter Holger

Bayer AG (BAYN.XE) said Tuesday its foundation has launched a 20 million euros ($21.9 million) fund aimed at lifting small-scale African farmers out of poverty.

The German pharmaceutical company said it awarded the first EUR3 million to four enterprises: myAgro, MercyCorps, Path and Living Goods.

Bayer said myAgro will train 200,000 farmers in Mali and Senegal and 250,000 children in de-worming and nutrition; MercyCorps will deploy a weather data platform for 200,000 farmers; Living Goods will train 350 community health workers in Uganda to help 280,000 families; and Path will reach 825,000 people to fight malaria.

"The support will enable smallholder farmers to further develop their entrepreneurial ideas, create jobs and increase their income," said Monika Lessl, executive director at the Bayer Foundation.

Write to Dieter Holger at dieter.holger@dowjones.com; @dieterholger

(END) Dow Jones Newswires

September 03, 2019 06:36 ET (10:36 GMT)

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