IFC to invest in agri sector in Punjab

The agri business models proposed by leading firms for Punjab in last one year have benefited the state.

Anticipating the huge potential in agri ventures in the state, International Finance Corporation, the private arm of the World Bank is eyeing Punjab.

In an interaction with Business Standard, IFC South Asia Portfolio Global Manufacturing and Services Department Manager Colin J Warren told Business Standard that IFC now wanted to decentralise its investments from metro towns to the smaller towns.

He said the key areas of investment by IFC in Punjab would be agri business, agri processing, road projects, manufacturing sector projects and hotel and tourism.

Ruling out the investments for the units coming up in proposed SEZs in north he said they would prefer to support the business propositions sustainable without concessions.

"Cold storage is a common service needed by all farmers, so investments in projects where community at large can benefit would be preferred by us," said Warren.

Backward and forward linkages in agriculture for the yield improvement, poultry, dairy farming and agro forestry would be thrust areas, he added.

Warren apprised that funding was no constraint and as many projects can be taken up on the basis of merit.