By Eamonn Ryan
This series is based on a joint GCCA–IFC webinar on the topic Cold Chain Insights in Emerging Markets, moderated by Amanda Brondy (GCCA), with contributions from Harsh Gupta, Cold Chain Lead, IFC; Rusmir Music, Global Cooling Lead, IFC; Selcuk Tanatar, TechEmerge Lead, IFC; Sunil Nair, Cooling Markets Lead India, GCCA; and Adam Thocher, Senior VP of Global Programs, GCCA.
This is part two of an eight-part series with this first part covering the topic: Effective cold chain development depends on the combination of IFC’s financing capacity and GCCA’s industry expertise.
Developing cold chains at scale requires more than capital or technology alone. It demands alignment between financial institutions, industry operators and technical experts. The collaboration between IFC and GCCA illustrates how complementary roles can accelerate cold chain growth in emerging markets.
IFC’s mandate is to mobilise private-sector investment where markets are underdeveloped or perceived as high-risk. Over the past decade, IFC has invested in cold storage facilities, integrated logistics platforms and temperature-controlled transport across Africa, Asia and Latin America. These investments typically target companies capable of operating at scale and influencing broader market development.
However, IFC’s role extends well beyond financing. As Gupta explained, IFC also provides advisory services, environmental and social risk management and technical due diligence. These elements are essential in cold chain projects, which are capital-intensive and operationally complex. By strengthening project design and governance, IFC helps attract additional lenders and investors.
GCCA complements this approach by bringing deep operational expertise. As a global trade association representing cold storage and logistics operators, GCCA develops best practices, training programmes and technical standards. Its members understand the day-to-day realities of operating cold chains under challenging conditions, including unreliable power, skills shortages and fluctuating demand.
One recurring theme in the webinar was that knowledge gaps often limit performance as much as funding gaps. Facilities may be built with modern equipment, yet underperform due to poor insulation, inefficient layout or lack of trained technicians. GCCA’s training and certification programs help address these challenges directly.
The partnership between IFC and GCCA creates a virtuous cycle. Lessons from IFC-financed projects inform GCCA guidance, while GCCA’s industry insights improve the bankability and sustainability of future investments. This collaboration ensures that cold chains are not only financed but designed and operated effectively.
As cooling demand grows rapidly in emerging markets, this combination of finance and expertise will be increasingly critical. Cold chains are expanding into hotter climates, weaker grids and more fragmented supply chains. Success in these environments requires both financial strength and operational excellence.