Financed ProjectsProgress Food Processing

Identification Code:

OP/00/0126

Total Operation Cost:

0

Maturity:

12 months

Operation Status:

Description and Purpose of the Operation:

The Operation involved the financing of working capital requirements of Progress Ltd., one of the largest producers of flour in Georgia.

Countries of Operation:

Georgia (100,00 %)

Financial Product:

Loans

Sector:

Consumer Staples

Domain:

Private

Borrower/Client:

Progress Ltd has been established in 1995 and located in Rustavi, Georgia, one of the industrial centers of Georgia close to Tbilisi. The activity of the company is production of flour. The company is owned by Georgian and Russian citizens.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The Operation helped the company to gradually increase its exports to the neighboring countries, Armenia and Azerbaijan and also contributed to promote trade between some of the BSTDB member countries, as the company imports grain from Russia, Ukraine and Bulgaria.

Environmental Classification and Impact (summary):

The Operation was in compliance with BSTDB's Environmental Policy.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org