UN Agricultural Development Agency to Increase Investments by 30% From 2016

The President of the International Fund for Agricultural Development (IFAD) Kanayo Nwanze is paying an official visit to Georgia. He stated that the agricultural sector had important changes and improvements made since 2012.

“I am glad Georgia has made progress in cooperation in the agricultural sector with its partnership and cooperation. This is the best example of collaboration. We welcome the steps that have been taken by you in this direction. We have decided to increase investments by 30% from 2016,” Nwadze said in a statement.

Since 1997 IFAD has invested a total of $118.9 million in five programs and projects in Georgia. This has generation a total investment of $56.1 million benefitting 82’850 households.

According to the Ministry of Agriculture, currently IFAD finances new four-year Agricultural Modernization, Market Access and Sustainability projects with $19million. The goal of the project is to increase rural incomes and to promote the entire chain of agricultural production, processing and sale.

President of the IFAD Nwanze met with Georgian Prime Minister Irakli Garibashvili who pointed out the favourable Geographic location of Georgia and stated that Georgia is regarded as so-called regional hub which historically connects several states.