Olam

Olam: IFC approves a 5-yr US$120m loan for Olam to finance upgrades and expansion of five food processing facilities in Nigeria and India. The projects will benefit local communities by generating rural employment and creating new opportunities for small-scale farmers to sell their crops. IFC financing will support activities such as sugar milling, spice processing, flour milling, mechanical cashew processing and sesame hulling. Management notes, the IFC’s endorsement represents a vote of confidence for Olam, given the IFC’s rigorous environmental and social review of a range of Olam’s policies, procedures and management initiatives.