View the full press release on the IFC website
On April 21, the Netherlands signed an agreement with the World Bank Group’s International Finance Corporation (IFC) to contribute €100 million to the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP). The Private Sector Window, managed by the IFC, provides long and short term loans, credit guarantees, and equity to support private sector activities to improve agricultural development and food security in low-income countries. The Netherlands’ contribution, along with the commitments made by Canada and the United States, will enable the Private Sector Window to reach a funding level of approximately $200 million.
The IFC recently announced the first financing from the window, a $5 million loan to the PRAN Group, a Bangladeshi agribusiness firm, to expand production capacity of one of its subsidiaries. The GAFSP loan will be accompanied by a $10 million IFC loan, highlighting the Private Sector Window’s ability to leverage other sources of financing.
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