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IFC and IFC ALAC Fund Invest in Armajaro, Supporting Ethical Sourcing of Agri-Commodities

In Washington:
Ludi Joseph

Phone: +1 202 473 7700


Alexandra Klopfer

Phone: +1 202 473 4645


London, United Kingdom, May 3, 2012—IFC, a member of the World Bank Group, and the IFC African, Latin America and Caribbean Fund are investing $55 million in Armajaro Trading Limited, a leading global soft-commodity supplier, to support the ethical sourcing of cocoa and coffee. The project will help develop sustainable farming practices and improve traceability within its supply chains.

Increasing traceability of commodities and promoting sustainable farming are integral to Armajaro Trading’s business model. These allow consumers to access sustainably cultivated products while contributing to the long-term social and economic development of farming communities. The project will help the company maintain closer contact with farmers and co-operatives and offer value-added services such as long term supply agreements and price risk management.

“Working with IFC will help Armajaro Trading become the partner of choice in the agri-commodity supply chain,” said Richard Ryan, CEO of Armajaro Trading. “IFC’s support will enable us to grow our business while ensuring that we continue to lead the sector in traceability and sustainability.”

Vipul Prakash, IFC Director for Manufacturing, Agribusiness, and Services, Asia-Pacific, said, “IFC’s investment represents a unique opportunity to partner with a global business leader that is active in improving the livelihood of its emerging-market farming communities and developing traceable and sustainable supply chains.”

Sujoy Bose, Chief Investment Officer and Head of the IFC ALAC Fund, said, “Armajaro’s extensive sourcing network, deep customer relationships with global buyers, strong expertise in the commodities it trades, and focus on traceable and sustainable products has put the company in a unique position to build on this platform and seek out growth opportunities in new territories and other soft commodities.”

Armajaro has operations in over 20 countries and a presence in the world’s key cocoa and coffee producing countries including Brazil, Colombia, Ecuador, Ghana, Kenya, Indonesia, Nigeria, Tanzania, and Vietnam.  

Armajaro Trading, through its not-for-profit company Source Trust, will also continue working with IFC Advisory Services to identify specific projects that will improve the welfare of farming communities and develop stronger relationships with nongovernmental organizations, development agencies, and charities.

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About IFC

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, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit

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About IFC Asset Management Company

IFC Asset Management Company LLC, a wholly-owned subsidiary of IFC, invests third-party capital, enabling outside investors to benefit from IFC’s expertise in achieving strong equity returns, as well as positive development impact in the countries in which it invests. It manages the $3 billion IFC Capitalization Fund, the $1 billion IFC ALAC Fund, and the $182 million Africa Capitalization Fund.

About the IFC African, Latin America and Caribbean Fund

The IFC ALAC Fund is a $1 billion fund that has commitments from six sovereign and pension investors, as well as IFC. The ALAC Fund was launched in April 2010 and is focused on making equity and equity-related investments in Africa, Latin America, and the Caribbean.

About Armajaro Trading

Armajaro Trading  is a global soft commodity trading house and supply chain manager founded in 1998 and is one of the world's largest traders in soft commodities. Headquartered in London, it has origination and exporting operations in all the major cocoa, coffee and sugar growing countries across the globe employing over 1,200 people globally. Armajaro Trading specialises in the sourcing and delivery of cocoa, cocoa products, coffee and sugar and is committed to being the partner of choice in the agri-commodity supply chain. Its established customer base includes all of the major global chocolate manufacturers and most of the world's leading coffee manufacturers and roasters. Sugar trading is a recent addition to the business and continues to expand and develop. Armajaro Trading also offers its clients bespoke financial instruments including forward price cover and value-added services from the initial sourcing and pricing through to the factory gate. It prides itself on first class contract execution and customer service.