IFC to invest USD 10 mn in New Anthony’s Farm Group to boost Lanka’s poultry sector

The International Finance Corporation (IFC), a member of the World Bank Group, is set to invest up to USD 10 million in New Anthony’s Farm Group to support the expansion of operations, strengthen efficiency, create jobs, and enhance rural livelihoods within Sri Lanka’s poultry industry.

IFC’s investment will enable NAF, Sri Lanka’s only fully antibiotic free poultry producer, to scale its production capacity, improve value chain efficiency, and expand access to safe and affordable domestic poultry supply. The project is expected to create more than 900 jobs and benefit at least 200 smallholder farmers engaged through contract farming and out grower schemes, with around 22% of them expected to be women and 80% low-income earners.

The investment includes up to USD 5 million from the Global Agriculture and Food Security Program (GAFSP) Private Sector Window. At full capacity, NAF is expected to export 1,936 metric tons of poultry annually, representing around 10% of total output and marking a 29% increase compared to 2024 levels. This expansion is projected to generate up to USD 4.95 million in additional foreign exchange earnings by 2032. In 2024, NAF accounted for more than 90% of Sri Lanka’s poultry meat exports.

Sri Lanka’s poultry sector remains a key source of affordable protein and an important contributor to national food security. However, smallholder farmers, who represent around 85% of farms, account for less than 30% of total supply and continue to face constraints in productivity, efficiency, and market access.

“Founded in 1986 as a smallholder enterprise, New Anthony’s Farm Group is proud to enter its next phase of growth through a partnership with the International Finance Corporation,” said Neil Suraweera, Chief Executive Officer of NAF. “This collaboration represents a paradigm shift for NAF, reinforcing our commitment to world class governance, transparency, and operational excellence, while upholding the highest standards of social and environmental sustainability.”

Carsten Mueller, Regional Industry Director, Manufacturing, Agribusiness and Services at IFC Asia Pacific, noted that the investment will help build a more efficient and resilient poultry sector, support export growth, improve access to fresh products, lower costs, and strengthen food security while creating opportunities for smallholder farmers across the value chain.

Picture: Neil Suraweera, CEO, New Anthony’s Farm Group; Carsten Mueller, Regional Industry Director, Manufacturing, Agribusiness and Services, IFC Asia Pacific; K. A. Emil Stanley, Chairman, New Anthony’s Farm Group