The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is considering injecting $4 million in the form of debt into Vietnam-based broiler breeding firm Bel Ga JSC, to help the company double its capacity by 2019.

The Vietnam incorporated firm will need an estimated investment of $10.2 million to facilitate the growth plan, which will be financed by a combination of equity and long-term debt, according to an IFC filing.

Set up in 2013, Bel Ga operates two breeder farms with a capacity of 120,000 parent hens and a hatchery with production of 10.5 million day-old-chicks (DOCs), in the Central Highlands region of Vietnam.

The company is owned by foreign family groups, Belgium’s top producer of DOCs and day-old-layers Belgabroed NV (holding 51 per cent), and Netherlands’ animal feed producer De Heus Animal Nutrition BV (holding 49 per cent).

Bel Ga, in collaboration with De Heus Vietnam, provide inputs (DOCs and feed) and technical advice to broiler farmers in Vietnam, helping them improve broiler production. “Paired with an innovative business model involving reliable broiler off-take, these will ultimately help increase farmers’ income levels and reduce income volatility,” the IFC investment proposal said.

In addition to the energy, telecom and financial industries, agriculture has been a focus area of IFC investments in Vietnam. Earlier in 2015, the international investor injected $6.5 million in Pan Pacific, now The Pan Group, to support its expansion in the food business. It also released a toolkit to enable Vietnamese financial institutions to develop agricultural finance products, before approving the $15.11 million loan to veterinary medicine firm Anova.