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EBRD boosts support for Georgia’s wine sector
The European Bank for Reconstruction and Development is lending $7.3 million
for seven years to Georgian Wines and Spirits Ltd, a leading wine producer in
Georgia and a subsidiary of Pernod Ricard Europe S.A., the world’s
third-largest producer and distributor of alcoholic beverages.
It is the second transaction with Georgian Wines (GWS), following a $5 million
loan in 1999. This loan will enable GWS to improve its marketing, packaging
and wine quality, as well as to restructure its distribution and management
systems.
Established in 1993, GWS is one of the leading producers and exporters of
high-quality Georgian wine, including the famous Old Tbilisi and Tamada
brands, to Russia and other CIS countries.
Hans Christian Jacobsen, Director for Agribusiness at the EBRD, said the
project will help GWS become more competitive and illustrates the Bank’s
support of the Georgian wine sector, with three investments altogether now in
that industry.
The EBRD is the largest investor in the agribusiness sector in a region that
spans 27 countries, with over 220 investments for a total commitment value of
€3.25 billion.
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