The International Finance Corp. (IFC), a member of the World Bank Group signed a five-year, $120 million loan agreement with Olam International, a processor of agricultural products and global integrated supply chain manager. The funds will be used to finance upgrades and the expansion of five food processing facilities in Nigeria and India. In fiscal year 2013 the IFC invested US$4.5 billion worldwide. Olan sources from over 3.5 million farmers and is a major investor in agribusiness in developing countries. To read more about each of the facilities that Olam will expand:
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service