Tbilisi, Georgia, October 4, 2011—IFC, a member of the World Bank Group, provided a $1.5 million loan to Tbilvino that will enable the company to establish a grape-collecting and crushing facility in the Kakheti region. Mr. Dimitris Tsitsiragos, IFC Vice President, Eastern and Southern Europe, Central Asia, Middle East and North Africa, and Mr. George Margvelashvili, President of Tbilvino, officially signed the agreement at official ceremony held in Tbilisi Marriott hotel.
IFC, a member of the World Bank Group, and is the largest global development institution focused exclusively on the private sector.
This is IFC’s first investment in Georgia’s wine sector and is a part of Tbilvino’s $3 million investment program aimed to progress the company development. IFC’s capital injection is designated to augment Tbilvino’s production capacity, increase exports, enhance product quality and food safety standards, and boost competitiveness on local and export markets.