IFC

A massive pig breeding and farming operation in Vietnam is set to expand, aided by $26 million in funding recently granted by the International Finance Corporation (IFC).

State radio reported last week that hog farm expansions financed by the World Bank in Henan’s Nanyang had allegedly taken farmland illegally from wheat farmers, threatening the nation’s grain security.

Over the past 10 years, the World Bank’s private investment arm has sunk more than $1.8 billion into major livestock and factory farming companies across the world.

The funds will be used for the procurement of specific agri-commodities from smallholder farmers in Vietnam, Indonesia, Timor-Leste, Papua New Guinea and Uganda as well as the expansion of Olam’s cocoa processing facility in Indonesia.

SOCFIN's subsidiary, the Salala Rubber Corporation, rejects dispute resolution with 22 communities in Liberia who filed a complaint with the IFC's Compliance Advisory Ombudsman, citing concerns with the "partiality of CAO’s team".

Suguna Poultry Kenya, subsidiary of India’s multinational Suguna Foods, will expand its breeder and hatchery poultry farms with financing from the World Bank's IFC.

A Mongabay investigation traces the rise and fall of a billion-dollar agribusiness cartel in Eastern Europe, finding it relied on money laundering, tax avoidance and state capture.

South Africa based Promasidor Holdings and Ekiti State will jointly pursue the rehabilitation and expansion of the Ikun Dairy Farm, which spans across 1,000 hectares in the Moba Local Government Area.

The Liberian Observer has reliably gathered that the International Finance Corporation has tabled all SRC’s loan application processes pending full scale investigation into a recent complaint filed against it by 22 indigenous Liberian communities.

Communities also file second complaint against the World Bank for new financial ties to HAGL

US Supreme Court rules that the World Bank's IFC can be sued. This may create new legal liability for development finance institutions whose funding harms local communities.

Phoenix Fruits, a subsidiary of Phoenix Commodities, the global Indian agri-business giant, is in the process of securing several greenfield sites for fruit production in Kazakhstan