IFC, a member of the World Bank Group, has agreed to provide a $3 million loan to SLCM, the Yangon-based subsidiary of Sohan Lal Commodity Management, a Delhi-based agri logistics group. The loan is aimed at supporting the company to expand its warehousing services and allied services in Myanmar.
“We have replicated our best practices and expertise in agriculture warehousing domain in Myanmar. In the past five years, we have been able to reduce post-harvest losses to 0.5 percent in the country, thus helping every player in the farm-to-market chain. We intend to utilize the capital to further scale up our operations and expand our presence here,” said Sandeep Sabharwal, Group CEO, SLCM.
The SLCM Group entered the Myanmar market in 2014. It has, so far, managed 3.24 million square feet of commodity storage space in 127 industrial zones and has handled 521 commodities with a total volume of 10.14 million tons.