IFC invests Rs 130 crore in Srinivasa Farms

International Finance Corporation (IFC) has committed to invest Rs 130 crore ($18.75 million) in Srinivasa Farms Private Ltd.

A member of the World Bank Group, IFC has made this commitment as part of strategic investment to support India’s agribusiness sector.

A statement said the first tranche of Rs 65 crore ($9.37 million) has already been invested. Jun Zhang, IFC Country Head India said, “Strengthening the agribusiness sector is at the heart of India’s development agenda. It is a sector of strategic focus for IFC. Investment in the poultry sector can lead to job creation for low-skilled workers who are entering formal labor force for the first time.”

Zhang added Srinivasa’s successful expansion will create jobs, improve rural logistics, and help create a market linkage for small farmers.

Srinivasa Group is one of the leading players in the integrated layer and broiler business which has diversified interests in soya, feed, contract farming, chicken processing and retail.

Image Credit : img.etimg.com

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