CDC's $30 million investment will help will help boost exports of PRAN Group's food and beverage products from Bangladesh to Asia and Africa.
CDC's investment will help PRAN Group to increase its exports to India and Africa. This will support PRAN Food to increase employment of c. 1,200 jobs by 2022, preserve existing employment of 30,000 people, and indirectly support economic links with farmers and local retailers.
Environmental and social aspects
CDCs environmental and social (E&S) due diligence identified a number of areas for improvement which were raised with the company. Through close cooperation with the company, the issues related to worker documents, accommodation standards and HR policy were resolved prior to disbursement. Remaining aspects are being addressed through an environmental and social action plan (ESAP).
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Food and agriculture
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Debt
- Start date
For direct investments, this is the date CDC committed capital to the business or project.
For funds, this is the date that CDC committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- October 2019
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- United Arab Emirates