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Washington D.C., September 5, 2013
—IFC, a member of the World Bank Group, will invest in Kaiima Bio-Agritech Ltd to help the company expand the use of high-yield, water-efficient seeds in China, India, and other developing countries.
Kaiima’s seeds are particularly useful in conditions of drought and poor soil quality. They hold potential for promoting the use of no-till farming, a technique for conserving water and reducing greenhouse gas emissions. IFC’s equity investment will support Kaiima’s research and development and provide working capital for marketing and expansion in developing countries.
"By 2050, farmers must produce 70 percent more food than they do today just to sustain the growing world population," said Dr. Doron Gal, Chief Executive Officer of Kaiima, which is based in Israel. "This is a daunting challenge that modern agriculture technology must rise up to meet. The strategic alliance we have formed with IFC fuels our rapid advances in yield enhancement technology, and positions Kaiima to become an outstanding participant in the global fight against hunger."
"Emerging countries have a critical need for improved crop yields at a time of increasing demand for food," said Stephanie Miller, IFC Director for Climate Business. "Technological innovations like these create opportunities to enhance food production with a limited impact on the environment, both short- and long-term. This is IFC's second investment in climate adaptation, and we are committed to continuing to build resilience against the potential impacts of climate change." IFC’s agribusiness strategy aims to promote food security, inclusive growth, and environmental and social sustainability in agricultural supply chains.
IFC works with supply chain integrators to provide small farmers and rural businesses with access to finance, access to inputs like equipment and seeds, advice and extension services, and access to markets. In FY 2013, IFC invested $4.5 billion across the agricultural value chain.
About Kaiima
Kaiima, whose name in Hebrew means sustainability, is an innovative Israel-based seed and breeding-technology company. Kaiima's mission is to help feed the world and energize it by introducing new varieties of key agricultural crops, specifically designed for sustainable agriculture, with vastly improved yields. EP™ has been successfully demonstrated by Kaiima in several crops, including wheat, maize, rapeseed and castor. For more information, visit
www.kaiima.com
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About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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