IFC contemplates poultry industry

A delegation of the International Finance Corporation (IFC), the investment arm of the World Bank, is currently in Romania on a visit to several major Romanian chicken producers in search of investment opportunities. “IFC officials are looking into the domestic chicken industry, and this is a sign of confidence in the domestic producers that have had a difficult time lately. Investments may come in form of a long-term loan, but also in form of a direct financial commitment,” says Ilie Van, chairman of the Union of Poultry Farmers in Romania (UCPR). He added IFC might invest as much as $40 million in a large market leader. The domestic chicken farming industry has seen a number of smaller producers go out of business lately. Even one of the top two producers on the market, Tec Miaco, whose sales totalled $37 million last year, has experienced its share of problems. The Romanian Investment Fund (RIF) and Romanian American Enterprise Fund (RAEF) withdrew from the company, which is now in talks with several investors over a direct investment or possible sale. ZF