(Ecofin Agency) - The International Finance Corporation (IFC) which manages the Global Agricultural Food and Security Program (GAFSP), an initiative targeting high-impact agribusiness projects in high-risk countries, has approved a €2.5 million ($2.8 million) loan to Mali Shi, a Mali-based agribusiness operating in the shea sector.

With this support, the company plans to set up a modern shea processing plant in the country, the world's second largest supplier of shea kernels. The company also plans to provide cooperative associations operating in the shea supply segment with technical assistance and training.

The project is backed by Omnium Invest SA, a private equity firm targeting projects in West Africa, and by Ecodev, an investment vehicle owned by the mining company Endeavour Mining. At the end of June, Ecodev provided XOF560 million for the project.

Chamberline Moko