Indian poultry firm Srinivasa Farms set for US$23 million IFC funding

INDIA – International Finance Corporation (IFC) plans to make an equity investment of US$23 million (Rs 158 crore) in Srinivasa Farms Pvt. Ltd to help the Hyderabad-based poultry company expand its operations. According to VCircle, the funding from IFC will help the company to expand its layer, broiler and breeding operations by setting up additional…

Kenya’s premium tea brand Kericho Gold secures US$4m IFC financing

KENYA - Kericho Gold, a premium tea brand owned by Gold Crown Beverages, a subsidiary of Global Tea & Commodities Ltd has received US$4 million funding in loan from IFC meant to fund its expansion strategy in Kenya and Malawi, reported the Exchange. A statement from IFC said that Global Tea & Commodities Ltd, a…

Kenyan grocery retailer Twiga Foods secures US$3m IFC funding

KENYA - Twiga Foods Ltd, one of Africa’s largest grocers to watch is set to receive US$3 million from the International Finance Corporation (IFC) in a series of funding aimed at raising about US$7 million from investors, reported Business Daily. Twiga Foods is a mobile-based supply platform for Africa's retail outlets, kiosks, and market stalls,…

IFC invests US$25m in KazFoodProducts food processing group

ASIA - The International Finance Corporation (IFC), a member of the World Bank Group is investing US$25 million in KazFoodProducts LLP food processing group of companies operating in grain milling and confectionary sectors. The investment aims at supporting the company’s expansion plans, boost Kazakhstan agricultural sector through diversification strategies as well as enhancing global food…

IFC launches food safety training to boost standards in Ethiopia

ETHIOPIA - The International Finance Corporation (IFC) has unveiled a new training programme on food safety management practices aimed at boosting standards at both local and international markets. The training which involves food producers, retailers, industry experts and policy makers also has a sole purpose of developing the country’s food processing industry and putting Ethiopian…

IFC invests US$10m in Rwanda to support small business growth

RWANDA - The International Finance Corporation (IFC) has announced a US$10 million loan investment in I&M Bank Rwanda to increase the bank’s capital base, increase lending to small and medium enterprises in addition to creating jobs in various sectors. The investment aims to provide financial incentives to smaller business in the agricultural, tourism, trade and…

IFC partners with Myanmar Rice Federation to boost growth in rice industry

ASIA - The International Finance Corporation (IFC), a member of the World Bank Group and Myanmar Rice Federation (MRF) have signed a memorandum of understanding to support sustainable growth of Myanmar’s rice industry. The partnership made by a collaboration with Australia, United Kingdom and Japan aims to accelerate changes in the industry through development, improvement,…

IFC invests US$12.5m in Ukraine meat producer

UKRAINE - IFC, a member of the World Bank Group, is investing up to US$12.5 million in Nyva Pereyaslavshchyny, a leading Ukrainian pork producer. According to the company, the investment will support its expansion and help create jobs, modernize Ukraine’s meat production sector, and boost sustainable agriculture. The company will also build a new pig…

IFC partners with Mars Food to promote sustainable development in the rice industry

ASIA - IFC, a member of the World Bank Group, and Mars Food and Battambang Rice Investment Co., Ltd, have launched a partnership to promote sustainable development of Cambodia’s rice industry. According to IFC, the partnership will work toward improving rice production and enhancing linkages with the global rice value chain and will help Cambodia’s…