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ADB & Suguna Foods Private Limited signs $15 million deal

Mahesh Kumar September 14th, 2020 02:56 pm Leave a comment

The Asian Development Bank (ADB) has signed an agreement for $15 million of debt financing through the subscription of nonconvertible debentures for Suguna Foods Private Limited (Suguna). The deal will help in sustaining poultry farming operations, as well as rural livelihoods and food security in India during the COVID-19 pandemic.

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With this deal, the ADB will offer essential liquidity support to Suguna’s operations and also help the company build inventory buffers and make timely payments to contract farmers and suppliers. It will also encourage local lenders to support the business and help attract other medium- and long-term capital and international partners.

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President of Asian Development Bank: Masatsugu Asakawa.

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Mahesh Kumar

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Working as an SEO Manager at Adda247, I bring over 10 years of experience in Search Engine Optimization (SEO) and digital marketing. I specialize in driving organic growth through data-driven strategies, including keyword research, on-page SEO, off-page optimization, and technical SEO. My area of expertise in the EdTech sector, specifically focusing on competitive exams such as Bank, SSC, Railway, UPSC, and various State Government job examinations.