Beijing, March 28, 2013—
IFC, a member of the World Bank Group, has agreed to buy shares worth of $8.5 million in Jiangxi Tianren Ecology Co., Ltd., helping the firm expand its biopesticide business and promoting sustainable forest and crop management in China. Tianren is located in Ji An, Jiangxi Province, one of China’s least developed regions.
With IFC’s investment, Tianren will increase its manufacturing capacity and strengthen its spray service both on land and in the air. Tianren will thus be able to supply biopesticide for over one million hectares of forest and arable land in China, enhancing the productivity.
“IFC’s expertise and funding is important for Tianren in transforming ourselves from a manufacturer to an integrated pest management solution provider”, said Liang Xiaowen, Tianren’s Chairman and President. “We will continue to create value for our customers, shareholders, employees and local communities, while contributing to environmental protection.”
Biopesticides are derived from natural materials including animals, plants, micro-organisms and mineral substances. Compared with conventional chemical pesticides, biopesticides are recognized as safer to the ecosystem with fewer residues and less harm to those organisms that the pesticides do not target.
“Environmental sustainability is important to people’s lives and to economic growth globally and in China”, said Hyun-Chan Cho, IFC’s Country Manager for China, Mongolia and Korea. “Through the partnership with Tianren, IFC supports a sustainable and more efficient way for agriculture government agencies and farmers to improve agribusiness productivity and food safety”.
Integrated pest management promotes the combined usage of chemical pesticides and biopesticides: biopesticides are used for prevention; while chemical pesticides are used when the insect level is too high. Integrated pest management is well established in developed markets, but is just starting to be introduced in emerging markets, including China.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
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