The World Bank Group International Finance Corporation (IFC) claimed on March 2 to offer a loan of USD20m to Shandong Xiwang Sugar Holdings Company Limited to bolster such agriculture-processing enterprise to uplift the operating level so as to boost Chinese rural employment and raise the level of food security.

It was known that the purpose of the loan plan by such IFC for Xiwang Sugar is to help the company to expand processing capability and strengthen its financial structure, which will also push forward the local rural employments, benefiting 400,000 farmers and simultaneously enhance the local security of foods.

Director of IFC East Asia and Pacific Bureau Karin Finkelston stated that private sectors are the driving force for the sustained development of emerging markets countries.

IFC and World Bank are planning to increase capital to provide long-term loans for more enterprises to create jobs to offer the opportunities of employment for poverty-stricken people.