IFC to invest US$10billion in Myanmar Awba Group

International Finance Corporation (IFC), a member of the World Bank Group, entered into an agreement to make an investment of US$10billion in Myanmar Awba Group, it is learnt from a signing ceremony held on 6th September at Hotel Novotel, Yangon.

The investment provided by IFC will be spent on the Hmawbi Agricultural Input Complex, which will manufacture crop
protection chemicals. The investment will ensure that the manufacturing processes will be eco-friendly with good sanitary practices observed and in accordance with the environmental criteria set by the World Bank Group.

Among the crop protection products manufactured by the plant will be Suspension Concerntrate- SC, a formulation that will be effective in protection from pests and insects, it is learnt.

This plant will create 500 jobs and the production by the plant is expected to be able to provide crop protection products for 3 million farming families.

Source: Global New Light of Myanmar

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