Georgian poultry to benefit from European Bank funding
Production capacity at a leading Georgian poultry farm is set to go ahead following a €4m loan from the European Bank for Reconstruction and Development (EBRD).
The funding is going to Georgia’s vertically integrated, modern poultry farm, Chirina LLC, to finance the increase in their current production capacity by 50%.
The EBRD funding will specifically finance the construction of 14 new turn-key broiler farmhouses to increase the production of fresh poultry across the country and for exports to neighbouring nations.
The project will also benefit from a €99,000 incentive grant aimed at implementing modern building energy management systems in the new farms. This will be provided through the Bank’s Finance and Technology Transfer technology in the area of climate change mitigation and adaptation.
And 100 Georgian grain farmers, including 20 women, who supply Chirina, will also receive special training on improving crop yields and quality.
The ERBD began working with Chirina LLC in 2017 but the company started out on a green field site in 2011. Businessman Revaz Vashakdize has transformed the company into one of the largest vertically integrated domestic producers over the past few years.
It has doubled domestic poultry production, substituting low quality imports of frozen chicken with the high quality locally produced goods. Located in the east of the country, the complex includes a hatchery, breeding farm, rendering and water treatment facility, as well as lands producing corn and wheat, grain drying and storage facilities to ensure product quality and safety.
Catarina Bjorlin Hansen, EBRD regional director for Caucasus, said the Bank was pleased to support Chirina’s expansion:
“This project will have a strong demonstration effect in terms of the development of the value-chain in the agribusiness sector in Georgia; at the same time enhancing import substitution, increasing food safety standards and boosting cross-border trading.
“This is exactly a type of project in the private sector that the EBRD is proud to support and we would like to work with more local manufacturers and producers through the variety of financing tools,” she added.
• Last year the EBRD supported 395 projects with €9.5bn investment.
