The International Finance Corporation (IFC) has allocated a $30 million investment to support Pran Dairy Limited (PDL) and Habiganj Agro Limited (HAL), subsidiaries of PRAN Group, a leading conglomerate in Bangladesh’s food and beverage sector. The investment aims to support businesses heavily reliant on imported raw materials amid a shortage of US dollars. With $15 million designated for each subsidiary, the six-year loan with a two-year grace period will facilitate the import of raw materials. This is the first of IFC’s USD term loans for working capital purposes in Bangladesh, enabling Pran Dairy and Habiganj Agro to sustain operations, boost exports, and preserve over 30,000 jobs.

Additionally, IFC will collaborate with PRAN Group to promote gender diversity and inclusion in the workplace, developing the company’s smallholder sourcing supply chain, and identifying opportunities for decarbonizing its agro-processing operations, among other initiatives. Martin Holtmann, IFC country manager for Bangladesh, Bhutan, and Nepal, said, “We are optimistic that it will enhance food security while prioritizing support for strategically important industries through innovative solutions. By supporting the PRAN Group, IFC will contribute to diversifying Bangladesh’s export base, which is crucial for job creation, expanding market opportunities, and enhancing economic resilience.”IFC’s longer-term US dollar financing will facilitate access to foreign exchange, assisting Bangladeshi companies in navigating the foreign exchange shortages and energy price hikes.