World Bank’s IFC pumped $1.8b into factory farming operations since 2010

Stop Financing Factory Farming
7th July '20
Located near Indonesia’s popular Mount Batukaru, this egg-laying chicken farm has approximately 10,000 chickens crammed inside a series of small wood and bamboo cages. The farm is surrounded by several other farms, all belonging to different families from the area. This farm pays scant attention to hygiene on its premises. Plastic trash and chicken feces are strewn about the area, including beneath the cages where the chickens live. Rats run and jump around the structures inside the building where the chickens are housed. Since the chickens’ housing opens to the outdoors, any animal can easily enter the farm, making it possible for disease transmission from one species to another. Egg consumption has risen steadily in Indonesia since the late 1960s, growing to just over 15 kilograms of eggs consumed per person in 2019 compared with less than 0.5 kilograms per person in 1961. Indonesia’s egg production has also shown consistent growth with this demand. As of 2020, Indonesia’s egg production continues to increase by just over 10 per cent per year, producing approximately 5.4 million tonnes of eggs in 2020 alone.

This article was originally published by Mongabay.

While the World Bank primarily lends directly to governments, the IFC provides funds for private companies in the form of loans, direct equity investments and other types of finance. The IFC says by providing capital to the livestock industry, it is stimulating job growth and reducing poverty while meeting greater demand for meat and dairy products in countries where incomes are rising.

“IFC has made agribusiness a priority because of its potential for broad development impact and especially strong role in poverty reduction,” the IFC said in an email to Mongabay.

But Mongabay’s analysis of the data shows most of the beneficiaries of its livestock investments were large multinational corporations with plans to ramp up industrial-scale animal farming in their countries of operation, and in some cases expand into new markets.

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