Public Development Banks have used at least US$4.5 billion of public money to support factory farming over the last ten years. Join us in demanding these banks stop financing unsustainable, cruel and destructive factory farming.
IFC – one of the worst culprits
Development banks are financial institutions founded and owned by one or more governments. They support public or private beneficiaries with a mission to support development.
Ironically, these banks are still funding factory farming despite their mission and commitment to the sustainable development goals (SDGs).
In recent years, International Finance Corporation (IFC) has pumped at least $1.8 billion dollars into factory farming projects around the world. This includes loans in Vietnam, China, Brazil, Ecuador and Uganda – to name but a few.
For animals, people, and the planet, let’s end factory farming.
Closing the financing gap
A new report by World Animal Protection “Closing the financing gap” reveals almost all (98.5%) SDG signatories are plunging millions of dollars' worth of taxpayers' money in factory farms and projects that support them.
Factory farms cause unnecessary suffering to billions of farm animals and are directly responsible for the climate crisis and biodiversity loss.
The report “Closing the financing gap” reviews and compares sustainable livestock farming policies with 2021 project financing by twelve multilateral development banks and provides recommendations for sustainable progress by 2030. Some key findings include:
- 0% of the banks have committed to fully excluding factory farming from funding.
- 98% of the signatories to the SDGs used public money to finance factory farming in 2021 based on ownership in a public bank that approved, signed, disclosed or made their initial investment in a factory farming project in 2021.
- 50% of the banks approved, signed, disclosed or financed a new project in 2021 likely supporting factory farming, including through production, processing, manufacturing, retailing, feed production and financial intermediaries.
Closing the financing gap
Pledge your support and join us in demanding the IFC:
- Ends new financing of factory farming by 2023.
- Increases the proportion of funding that supports the sustainable production of plant-based proteins.