FrieslandCampina receives millions for Pakistan

FrieslandCampina will receive 145 million dollars to invest in the dairy sector in Pakistan. With that money, the dairy can also take a 51 percent share in one of the largest processors in Pakistan: Engro Foods. The loan comes from part of the World Bank. 

During a meeting between Roelof Joosten, CEO of FrieslandCampina and the Prime Minister in Pakistan, Nawaz Sharif, the opportunities in the dairy sector were discussed. In total, the IFC is providing a financing package of USD 145 million. 

The reason the IFC is providing such a large amount is that they expect 200.000 farmers and 270.000 surrounding parties to benefit from the acquisition of Engro. 'Which could also create another 1.000 new jobs in dairy processing.'

In addition to the 145 million dollars, FrieslandCampina will also receive another 45 million from the Dutch Financing Company for Developing Countries. "Pakistan is an important emerging market, supported by one of the largest and fastest-growing middle classes in size." Joosten indicates that FrieslandCampina helps to increase food security, stimulate more sustainable production and improve the living standard of dairy farmers. 

Pakistan is the number 3 dairy consumer in the world, producing 38 billion liters of milk annually. It is an attractive market for FrieslandCampina mainly because urbanization is increasing, the size of the middle class is growing and there is an increasing switch from loose dairy to packaged product. 

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