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).
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.
IFC – one of the worst culprits
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.
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.
