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EBRD, EU help Georgian poultry farm boost its capacity

08 April 2020 [10:38] - TODAY.AZ

By Trend

European Bank for Reconstruction and Development (EBRD) and the European Union (EU) help Georgian poultry farm Chirina boost its capacity.

According to EBRD, in February 2020, Chirina added 14 new turnkey broiler farmhouses to increase production by 50 percent.

As reported, with sweeping efforts rolling out worldwide to fight the spread of the coronavirus, the company quickly revised its plans to adjust. However, this did not stop Chirina’s management from bringing the new facilities up to full steam at a time when the local production of essential goods had become of the utmost importance.

The support to the poultry company proved vital during these trying times, with global trade disrupted and Georgia’s extreme reliance on imported goods becoming a concern, the report said.

"Historically, Georgia’s poultry market had been dominated by imports. Now, mostly thanks to Chirina, import volumes have shrunk and are expected to drop even further with Chirina’s increased production capacity," said EBRD.

The European Bank for Reconstruction and Development started working with the Chirina in 2017 on an international advisory project funded by the European Union as part of the EU4Business initiative. International industry experts helped the company to fine-tune its business procedures and plans for a new production facility.

Shortly after that Chirina became the first company in Georgia to join the Blue Ribbon program, an EBRD initiative targeting high-growth enterprises with a combination of financial and advisory products. The EBRD’s loan of 4 million euro in 2019 was complemented by support the Deep and Comprehensive Free Trade Areas (DCFTA) Direct Support Facility, which is co-financed by the European Union.

URL: http://www.today.az/news/regions/192746.html

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