UN agency increases investments in Georgia by 30%

The United Nations International Fund for Agricultural Development (IFAD) is going to increase its investments in Georgia by 30 percent in 2016.

IFAD president Kanayo F. Nwanze, who visited Georgia yesterday, explained the decision was made following Georgia’s "progress in the agricultural sector”.

Georgia has achieved progress in the agricultural sector through cooperation and partnership [with IFAD]. This is the best example of cooperation. We welcome the steps taken by Georgia in order to develop this sector. Therefore we decided to increase investments by 30 percent, starting from 2016,” Nwanze said.

The IFAD president visited Georgia to support the country revitalize its agriculture sector. Yesterday he met Georgia’s Prime Minister Irakli Garibashvili and Agriculture Minister Otar Danelia.

The sides discussed ways to reduce poverty and improve the lives of smallholder farmers through unique approaches such as developing climate smart agricultural systems, improving access for farmers and agri-business to markets, modernising the value chain approach and creating opportunities for young people.

IFAD has implemented four projects in Georgia since 1997 and has invested $120 million USD in total.

Currently IFAD was implementing a $19 million USD four-year project to modernise agriculture in Georgia.