World Bank lends money for Mexican pork initiative

Reuters / The World Bank’s private-sector lender is loaning $40 million to Norson, a joint venture in Mexico of local investors and the world’s largest pork processor Smithfield Foods, to expand production and cut greenhouse gas emissions at its plants.

The International Finance Corp. (IFC) said the loan will help Norson Holdings increase production, processing and cold storage over the next four years. The company will also install plastic liners at its waste facilities and look at ways to turn methane into electricity.

“This partnership supports food security by promoting agriculture productivity, rural employment, and environmental and social standards,” said Jin-Yong Cai, IFC executive vice-president and chief executive.

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