Johannesburg - The International Finance Corporation, the World Bank's private sector lending arm, will nearly double its investment in agribusiness in Africa to $200m during the 2009 fiscal year, a senior official said.
IFC director for global agribusiness, Oscar Chemerinski, said the lender would continue to ramp up its agribusiness investments as part of efforts to help increase food production and supplies on the continent, parts of which have been hit by shortages and high prices of food.
"We're looking at doubling our investment from the past fiscal year to about $200 million in 2009 throughout the whole agribusiness supply chain," Washington-based Chemerinski told Reuters in an interview.
- Reuters