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

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.