IFC’s $2 million loan will help Kvarlis Baga purchase additional facilities and more than triple its daily fresh milk production from 3 tons to 10 tons, and make the firm Georgia’s leading fresh milk producer.
Caring about food safety means caring about your brand. Many famous brands made a breakthrough once they started following food safety standards, exactly what Marshe, a Georgian food producer and wholesale distributor, hopes to achieve with support
Georgia became an IFC member and shareholder in 1995. As of December 31, 2015, IFC has provided about $1.2 billion* in long-term financing, of which $373 million was mobilized from partners, in 55 projects in financial services, agribusiness, manufacturing, and infrastructure. In addition, IFC has supported around $315 million**in trade through its trade finance program, and implemented a number of advisory projects focused on developing the private sector.
* Starting on July 1, 2014, IFC shifted from reporting its cumulative commitment volume as a sum of short-term trade finance and long-term finance to reporting only long-term commitments. Short-term finance is now reported as the average annual outstanding portfolio balance in a given fiscal year.
**Total trade supported is measured as all trade transactions in which the given country is either the country of import or the country of export.
IFC Strategy in Georgia
The new World Bank Group Country Partnership Strategy for financial years 2014-2017—approved by the Board in May 2014—has two pillars: strengthening public service delivery to promote inclusive growth and enabling private sector-led job creation through improved competitiveness.
Within this Country Partnership Strategy, IFC works to:
Contribute to greater financial intermediation and increase access to finance for MSMEs through the provision of trade finance, risk management products, longer term senior and subordinated debt, and equity;
Promote sustainable private sector-driven growth through increased trade and increased competitiveness of local companies;
Help develop the country’s significant renewable energy potential;
Support improvements in productivity for agricultural processing and food safety;
Foster the development of public-private partnerships.
Details of projects currently in progress can be found in IFC Disclosure. For completed projects see press releases below or visit the IFC Press Room.