Washington-IFC, a member of the World Bank Group, is financing the construction of a 450,000 mt/y fertilizer plant in China’s Sichuan Province, helping the region recover from a devastating earthquake last year by addressing a fertilizer shortage in one of the country’s most important agricultural centers. IFC has signed a $20 million loan and a $10 million equity investment with Koyo Ecological Agrotech Group Ltd. in support of its ammonia and urea plant in Dazhou City. Last year’s earthquake in Sichuan caused an estimated $6 billion dollars in damage to agriculture. More than 30 million people in rural communities were severely affected, losing most of their assets. The earthquake also disrupted the supply of fertilizer in the region, a critical need to restore crop production. Twenty percent of Sichuan’s GDP comes from agriculture, significantly more than the national average.
Transparency Across the Fertilizer Value-Chain