IFC invests US$20mn in Sri Lanka’s Cargills retail chain

COLOMBO (EconomyNext) – International Finance Corporation, a unit of Washington-based World Bank has invested 20 million US dollars in ther retail chain of Sri Lanka’s Cargills group said.

IFC has invested 2,550 million US dollars in Cargills Food Company (Pvt) Ltd, the unit which operates Cargills Food City and Cargills Express supermarkets.

Cargills Food City is Sri Lanka’s largest self-service retail network which has expanded rapidly.