International Finance Corporation (IFC) Bhutan

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Helping Bhutan’s farmers earn more and supporting small businesses across the country are key elements of IFC’s work in the Kingdom of Bhutan.
IFC’s requirements for robust performance standards in its projects are a natural fit with Bhutan’s philosophy for growth centered around Gross National Happiness. IFC has been working in Bhutan to support the country’s inclusive and sustainable development agenda with a strong focus on job creation and economic and environmental resilience.
Expansion of Agribusiness: Agriculture is the main source of livelihood for more than half the population but accounts for less than one-fifth of Bhutan’s gross domestic product (GDP). An investment in a hazelnut production venture – Mountain Hazelnuts – marked IFC’s first ever engagement in the country’s agribusiness sector. Farmers grow hazelnuts to generate income on degraded, unused land, which would otherwise be left barren. Sales from this project, supported by the private sector window of the Global Agriculture and Food Security Program, are projected to significantly increase the household income for the participating farmers impacting approximately 15 percent of Bhutan’s population.