The International Finance Corporation (IFC) is providing up to $35 million to Tanveer Food Limited (TFL), a subsidiary of the Meghna Group of Industries (MGI), to bolster the rice market in Bangladesh and enhance food security for over 123,000 smallholder farmers, particularly women. This investment, the IFC’s first under its Global Food Security Platform (GFSP), aims to address the global food crisis and build a more resilient food system.
The funding will enable TFL to establish an advanced automated rice mill in the Bogura region, with a processing capacity of 1,000 metric tonnes per day, producing over 170,000 tonnes of packaged rice by 2027. It will also support the construction of a rice bran oil plant and a husk-based co-generation plant for climate mitigation and energy resilience. This initiative will create employment opportunities, improve rice quality, and contribute to a more resilient global food supply market in Bangladesh.