IFC Executive Board Approves Chinese Enterprise's Overseas Investment Project to Support Food Security and Agricultural Supply Chains in Five Countries

36Kr reports that on September 24, the IFC Executive Board approved the New Hope Global project under the simplified procedure (AOB). The IFC plans to provide a Class A loan of up to $150 million to New Hope Sinapore Co., Ltd., a wholly-owned subsidiary of China's New Hope Liuhe Co., Ltd., to support its expansion of animal feed production capacity and related working capital needs in Egypt, Bangladesh, Cambodia, Nepal, and Vietnam. This investment aims to enhance local agricultural supply chain resilience and food security levels while promoting rural employment and increasing farmers' incomes.