Dushanbe, Tajikistan, December 16, 2010
—IFC, a member of the World Bank Group, is providing Amiri LLC with a $1.3 million loan to support Tajikistan’s first production of high-quality chocolate and confectionery and reduce the country’s reliance on imports.
The IFC financing will help the company buy modern chocolate processing equipment and become the first local producer in Tajikistan to compete with imported brands. In addition, IFC will assist Amiri in enhancing its environmental and social standards and in disseminating successful production practices in the local market.
“IFC’s financial support and technical advice is essential for us to start the confectionery business in Tajikistan,” said Gulbahor Muminova, Director of Amiri LLC. “It will help us start operations very quickly, achieve high efficiency, and supply the people of this country with a variety of quality chocolate products at a reasonable price.”
“IFC is committed to supporting dynamic, transparent, and well-managed private companies in Tajikistan,” said Christopher David Miller, IFC Country Officer for Tajikistan. “Through its expanded production capacity, Amiri will become a local leader in international standards and contribute to job growth and reduced dependence on imports.”
Agribusiness is a priority sector for IFC in Eastern Europe and Central Asia. As of June 30, 2010, IFC’s agribusiness investment portfolio in the region stood at $1.4 billion. IFC’s advisory programs are helping strengthen agricultural supply chains, increase food safety, develop agri-insurance, and improve access to finance for farmers and entrepreneurs.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
