IFAD ALLOCATES 20 MLN USD TO MINISTRY OF AGRICULTURE OF GEORGIA



H.E. Nodar Khaduri, Minister of Finance of Georgia and H.E. Otar Danelia, Minister of Agriculture of Georgia signed an Agreement with Kanayo F. Nwanze, President of the International Fund for Agriculture Development (IFAD) within the visit of the Georgian dignitaries to Italy. In line with the referred Agreement, around 20 MLN USD will be allocated for the development of agriculture sector of Georgia.

The referred financial resources include a grant financing in the volume of 6 MLN USD, while the rest – 14 MLN USD is a concessional loan. Signing ceremony was held at the Head Office of IFAD in Rome, Italy.

In the opinion of H.E. Nodar Khaduri, Minister of Finance of Georgia, one of the main priorities of the government of Georgia is to develop the country’s economy, including the agriculture sector. “Financial resources allocated by IFAD are a significant support to our country. It will give an excellent opportunity for boosting productivity and export in the sector of agriculture. It will also transform the sector into one of the serious pillars of our economy” noted the Minister of Finance of Georgia.

“Government of Georgia continues to facilitate the development of agriculture sector of the country. We signed an agreement today, which envisages a financial support in the volume of around 20 MLN USD. It will be used to support farmers; develop the climate-smart agriculture, plenty of irrigation and other infrastructure projects” stated the Minister of Agriculture of Georgia.

In the opinion of Kanayo F. Nwanze, President of the International Fund for Agriculture Development (IFAD), by implementing such investment projects for the support of farmers and increase of agriculture productivity Government of Georgia (GOG) and IFAD are actively cooperating.”It is well-known that one of the priorities in the country development strategy designed by the authorities of Georgia is to stimulate the agriculture sector. These financial resources will be ultimately used for the development of strategically significant sector of Georgia” noted IFAD President.

Agriculture Modernisation, Market Access and Flexibility Project

Agriculture Modernization, Market Access and Resilience Project (AMMAR) and agreement is aimed to finance the climate-adapted agriculture value chain starting from primary production all the way through products on the shelf in Georgia. Production will be adapted to the climate change, which will apply advanced technologies. Project will be implemented by the Ministry of Agriculture in the period of 2015-2019.

Global Environmental Facility (GEF) has allocated the grant financing for AMMAR Project implementation. Grant is aimed at capacity building of farmers in adjusting to the risk factors of climate change through advanced agriculture systems, climate-adapted industrial systems and introduction of agro-industrial cultures.

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