Printer Friendly

United States : IFC Supports Georgian Mushroom Producer, Boosting Agribusiness and Supporting Farmers.

IFC, a member of the World Bank Group, is providing financing to Tetri Kudi, helping the Georgian mushroom producer expand production, improve competitiveness, and replace imported mushroom products in Georgia.

IFC s $1.5 million loan will support the company s growth, boosting agribusiness and supporting local farmers. The project will create direct and indirect jobs, especially in regions where job opportunities are scarce.

IFC s investment is expected to support the development of agriculture in Georgia through supply-chain linkages. The project will also help the development of environmentally friendly agricultural production and generate additional revenues to the state budget.

Tetri Kudi is a fast growing company and IFC s long-term funding will support our expansion and modernization plans, said Ivane Ioseliani, General Director, Tetri Kudi.

Thomas Lubeck, IFC Regional Manager for the South Caucasus, said: Our investment in Tetri Kudi is yet another step forward in our strategy to support Georgia s agribusiness sector. The project can demonstrate that many products that are now imported can be produced in Georgia, benefitting local communities, creating job opportunities, and contributing to the country s economic growth.

Georgia became an IFC member in 1995. Since then, IFC has invested about $656 million in 51 projects across various sectors and supported regional projects developed in the country. IFC has also implemented a number of advisory projects focused on developing the private sector.

2013 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2013 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Sep 5, 2013
Words:242
Previous Article:United States : U.S. Exports Reach $189.4 Billion in July.
Next Article:United States : Interior Holds Second Competitive Lease Sale for Renewable Energy in Federal Waters.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters