IFC to Assist Georgian Agribusiness in Adopting International Standards

The International Finance Corporation (IFC, member of the World Bank group) announced plans for a new consulting program to be implemented in Georgia, aiming to provide assistance to local agricultural companies in the adoption of international standards. The program will be funded by Austrian Finance Ministry.

According to IFC regional manager Thomas Lubeck, the Georgian agriculture sector has significant po-tential, but its development is hampered by insufficient levels of standards.

To note, Georgia became a member of the IFC in 1995. Since then, the IFC implemented 51 projects across various sectors worth of USD 656 million.