IFC Investment Helps Improve Vietnam’s Coffee-Processing Capacity
Hanoi, Vietnam, June 11, 2012—
IFC, a member of the World Bank Group, is providing $18 million to Ngon Coffee Company Limited for its instant-coffee manufacturing plant in Vietnam, helping improve the country’s coffee-processing capacity and create jobs in the sector.
Ngon Coffee is owned by CCL Products (India) Limited, an Indian firm that exports instant coffee to more than 58 countries.
“This financing will allow us to invest in equipment and technology to produce more environmentally friendly and better quality coffee,” said Rajendra Prasad Challa, Chairman and Managing Director of CCL Products. “IFC’s investment in our company shows its commitment to support cross-border investments by midsize companies in Asia.”
Vietnam is the world’s second-largest coffee exporter and the biggest producer of robusta beans. However, 97 percent of Vietnam’s coffee exports are semi-processed beans, which are of lower quality and are sold cheaper than other types of beans.
“Vietnam’s coffee industry has tremendous growth potential. This investment will help increase Vietnam’s high-value coffee exports, increasing incomes for farmers and workers in the industry and improving the industry’s competitiveness,” said Simon Andrews, IFC Regional Manager for Vietnam, Thailand, Cambodia, and Lao PDR.
IFC has been helping Vietnam’s coffee sector grow by establishing a training center in 2010 that assists small-scale farmers in getting sustainability certifications, enabling them to sell their beans for higher prices, raising incomes, and linking them with global supply chains.
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, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
.
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About Ngon Coffee Company Limited
Established in 2009, Ngon Coffee Company Limited is owned by CCL Products (India) Limited. CCL is a leading manufacturer of instant coffee that exports bulk and packaged instant coffee to various brands and private labels in over 58 countries. CCL also has a manufacturing facility in India. CCL is listed on the Bombay Stock Exchange and the National Stock Exchange of India. For more information, visit
www.cclproducts.com
.
