The International Finance Corporation, an arm of the World Bank that invests in private businesses, has bought a stake in Brazilian beef processor Minerva.
The IFC plans to buy just under 3% of Minerva, the Brazilian company announced. Minerva is also lending BRL137.7m from the IFC.
The agency is expanding its operations in the agri-food sector. In 2012, the organisation more than doubled its lending to agriculture-related projects to some $4.2bn out of a total pot of around $20bn which itself has grown prodigiously in recent years.
Click here for our Sustainability Watch column on the IFC, published in April, which looked at the agency’s investments in the agribusiness sector.