The International Finance Corporation has invested $3.8 million into Nepalese poultry feed producer Probiotech Industries alongside the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP).
The deal represents IFC’s first investment into Nepal’s agribusiness sector and represents support as Nepal recovers from a devastating earthquake earlier this year.
The investment is aimed at enhancing poultry farm productivity and increasing rural incomes in the country, according to a press release.
Probiotech will use the funding to finance the production of value-added products like soy flour, nuggets and refined oil. And it will help the company to increase its reach and distribution.
GAFSP is a global effort that pools donor funding to increase agricultural productivity as a way of reducing poverty and increasing nutrition security.