Letter to IDB Invest: Marfrig Global Foods (October 2021)
Stop Financing Factory Farming
19th October '21
This letter from the undersigned communities and civil society organizations, including the Stop Financing Factory Farming coalition (S3F), sent to the International Finance Corporation (IFC) shares concerns in relation to Project 13032-02: the proposed $43 million loan for Marfrig Global Foods, the world’s second largest beef company.
While the stated goal of the IDB Invest loan is to have a sustainable and deforestation-free production by 2025 in the Amazon and by 2030 in the Cerrado, in reality this loan will prop up a company whose current practices will likely lead to further legal and illegal deforestation and human rights violations in these regions for many years to come.
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