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IFC, Austria Help Armenian Companies Improve Food Safety Practices and Increase Competitiveness

Yerevan, Armenia, May 18, 2012 —IFC, a member of the World Bank Group, in partnership with the Austrian Ministry of Finance is launching an advisory project to help Armenian food producers improve food safety practices, thereby increasing their competitiveness, sales and exports.
The IFC Armenia Food Safety Improvement Project will draw on IFC’s global and regional expertise to help Armenia’s food producers adopt best international food safety practices. The project will conduct seminars and provide in-depth advice to select firms to help them implement HACCP (Hazard Analysis Critical Control Points), a globally recognized standard and the basis for most international food safety certification schemes.
Thomas Lubeck, IFC Regional Manager, South Caucasus, said, “We have many success stories in this region showcasing how improved food safety creates opportunities for food producers and facilitates access to new markets. Our work in Armenia is part of our regional efforts to support agribusiness, which is one of the most important sectors for employment in the region.”
The IFC Armenia Food Safety Improvement Project is supported with funds from the Austrian Ministry of Finance. HACCP is the most widespread and effective international system that identifies, evaluates and controls hazards significant to food safety.
Since Armenia became a member of IFC in 1995, IFC has invested $202 million in 35 projects across several industries, including financial markets, manufacturing, and mining. IFC Advisory Services also provides advice through projects focusing on improving food safety practices, the financial sector, sustainable energy and regulatory simplification.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit .
For information about the Austrian Ministry of Finance, visit .
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