Beijing, March 28, 2013—IFC, a
member of the World Bank Group, has agreed to buy shares worth of $8.5
million in Jiangxi Tianren Ecology Co., Ltd., helping the firm expand
its biopesticide business and promoting sustainable forest and crop management
in China. Tianren is located in Ji An, Jiangxi Province, one of China’s
least developed regions.
With IFC’s investment, Tianren will
increase its manufacturing capacity and strengthen its spray service both
on land and in the air. Tianren will thus be able to supply biopesticide
for over one million hectares of forest and arable land in China, enhancing
“IFC’s expertise and funding is important
for Tianren in transforming ourselves from a manufacturer to an integrated
pest management solution provider”, said Liang Xiaowen, Tianren’s Chairman
and President. “We will continue to create value for our customers, shareholders,
employees and local communities, while contributing to environmental protection.”
Biopesticides are derived from natural
materials including animals, plants, micro-organisms and mineral substances.
Compared with conventional chemical pesticides, biopesticides are
recognized as safer to the ecosystem with fewer residues and less harm
to those organisms that the pesticides do not target.
“Environmental sustainability is important
to people’s lives and to economic growth globally and in China”, said
Hyun-Chan Cho, IFC’s Country Manager for China, Mongolia and Korea. “Through
the partnership with Tianren, IFC supports a sustainable and more efficient
way for agriculture government agencies and farmers to improve agribusiness
productivity and food safety”.
Integrated pest management promotes
the combined usage of chemical pesticides and biopesticides: biopesticides
are used for prevention; while chemical pesticides are used when the insect
level is too high. Integrated pest management is well established
in developed markets, but is just starting to be introduced in emerging
markets, including China.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.