IFC weighs $22.5m investment in Bangladesh-based Rupshi Flour Mills

The International Finance Corporation (IFC), a member of the World Bank Group, is proposing an approximately $22.5 million investment in Rupshi Flour Mills Limited, a Bangladesh-based greenfield flour refining company, according to a disclosure.

The proposed IFC investment includes 14 million euros ($16.6 million) and 500 million taka ($5.9 million) with a tenor of up to eight years including a two-year grace period.

This investment is expected to be utilised for capital expenditure to be incurred for the project — plant & machinery, other equipment, building, and other construction costs.

Rupshi is a member of Bangladesh’s City Group, an established conglomerate consisting of leading food processing and packaged product companies.

“The project will contribute to improving Bangladesh’s food security by supporting improved food safety standards and provide an alternative to the major staple, at competitive prices. It will support an increased production of flour that will meet growing domestic demand and partially replace informal mills with hygienic flour of superior quality,” the international lender said in the disclosure.

In October, IFC proposed to extend up to $25 million working capital solutions (WCS) facility to Bank Asia Ltd in Bangladesh.

Earlier, it had proposed to provide two senior loans of up to $75 million to two Bangladeshi lenders — The City Bank Limited and Prime Bank Limited.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.