IFC launches $120 million fund to boost Pakistan agri-value chain, support farmers

KARACHI: The International Finance Corporation (IFC) has launched a Rs33.6 billion ($120 million) fund to support financing from a foreign bank’s Pakistani subsidiary to a local fertilizer manufacturer to strengthen the country’s agri-value chain and support farmers, IFC said on Tuesday. The funding will support long-term Pakistani rupee-denominated financing from Standard Chartered Bank Pakistan (SCBP) Limited to Engro Fertilizers Limited to strengthen Pakistan’s agri-value chain by mobilizing local capital, according to IFC.

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