$5 million to PRAN group, a Bangladeshi agribusiness firm, to expand its production capacity, create new rural jobs, and integrate small farmers into retail supply chains.
The GAFSP Private Sector Window loan will be concurrent with IFC's loan investment of $10 million. This $15 million in financing will be used to expand the production capacity of its subsidiary company Natore Agro in response to an increase in the demand for packaged food products both in local and international markets.
The project is expected to create over 1,200 new jobs in rural areas, positively impacting the livelihood of farmers and their communities.
Integrating small farmers into retail chains:
The project will source fruits, vegetables and other inputs directly from small farmers. The funding helps to ensure that farmers have a consistent demand and fair pricing for their produce.
Other development impacts:
PRAN's extended distribution network will enable the company to reach under-served, impoverished communities to provide them with affordable, essential food products of high quality.
Interactive Map: Bangladesh
This interactive map of Bangladesh highlights the location of PRAN as well as the tentative project locations of the Bangladesh Integrated Agricultural Productivity Program (IAPP) through the Public Sector Window. This map overlays sub-national poverty data, demographic indicators, and other information relevant to the program, like the amount of irrigated areas by administrative division.
The GAFSP Private Sector Window is also funding the Integrated Agricultural Productivity Project (IAPP) in Bangladesh.
Ms. Laura Mecagni (Head, GAFSP Unit for IFC firstname.lastname@example.org, +1-202-473-5969), based in Washington D.C.
Ms. Soma Mukherjee (Team Leader for IFC, Investment Officer), email@example.com, +1-202-473-3594) based in Washington, D.C.
Mr. Farshed Mahmud, (Transaction Leader for IFC, Investment Officer, firstname.lastname@example.org, +88 (02) 8833752-66, Ext.1176) based in Dhaka.
CSO Annex Report on PRAN Bangladesh
Summary of Proposed Investment: PRAN Natore Agro
Press Release: IFC Helps PRAN Increase Processed Foods Availability in Bangladesh, Create Jobs