IFC Invests $10 Million in Sri Lanka Poultry Expansion

The project is expected to create more than 900 new jobs while benefiting at least 200 smallholder farmers through contract farming and outgrower programmes.

The International Finance Corporation (IFC), a member of the World Bank Group, has announced an investment of up to US$10 million in New Anthoney's Farms Group (NAF) to support the expansion of Sri Lanka's poultry industry, strengthen food security and create new employment opportunities. The funding will help NAF increase production capacity, improve efficiency across its supply chain and expand the availability of safe, affordable poultry products. NAF is currently Sri Lanka's only fully antibiotic-free poultry producer and is one of the country's largest poultry companies. The investment package includes up to US$5 million from the Global Agriculture and Food Security Program (GAFSP) Private Sector Window, supporting long-term growth in the agricultural sector.

Expansion expected to create jobs and support farmers

The project is expected to create more than 900 new jobs while benefiting at least 200 smallholder farmers through contract farming and outgrower programmes. Around 22 per cent of participating farmers are expected to be women, while 80 per cent are from low-income households. Smallholder farmers already contribute about 40 per cent of NAF's poultry production. The expansion is expected to improve their access to markets, increase productivity and strengthen incomes by integrating them more closely into the company's supply chain. The investment will also support the growth of NAF's retail outlets and franchise network, allowing consumers across Sri Lanka to purchase more all-natural poultry products.

Export growth to strengthen Sri Lanka's economy

Once the expansion reaches full capacity, NAF expects to export 1,936 metric tonnes of poultry each year, representing about 10 per cent of its total production. This would mark a 29 per cent increase compared with export levels recorded in 2024. The company estimates the additional exports could generate nearly US$4.95 million in foreign exchange earnings annually by 2032. In 2024, NAF accounted for more than 90 per cent of Sri Lanka's poultry meat exports. NAF Chief Executive Officer Neil Suraweera said the partnership with IFC marks an important milestone for the company, helping strengthen governance, operational standards and sustainable business practices while supporting the future growth of Sri Lanka's poultry industry.

IFC Regional Industry Director for Manufacturing, Agribusiness and Services in Asia Pacific, Carsten Mueller, said the investment will help build a stronger and more resilient poultry sector by increasing production, supporting exports, improving food security and creating new opportunities for smallholder farmers. The investment aligns with the World Bank Group's Country Partnership Framework for Sri Lanka, which focuses on private sector-led economic growth, employment and building a more resilient agricultural sector.

Tags: Sri Lanka, IFC, World Bank Group, New Anthoney's Farms Group, Poultry Industry, Agriculture, Food Security, Smallholder Farmers, Exports, Investment