EBRD to finance Chorina’s poultry farm expansion in Georgia

Georgia-based vertically integrated poultry farm Chirina is set to increase its production capacity by 50% with financing offered by the European Bank for Reconstruction and Development (EBRD).

EBRD has agreed to provide a loan of €4m ($4.5m) to Chirina for the construction of 14 broiler farmhouses to increase the production of fresh poultry countrywide. This will enable the company to cater to domestic and export markets.

EBRD Caucasus regional director Catarina Bjorlin Hansen said: “The EBRD is pleased to support Chirina’s expansion. This project will have a strong demonstration effect in terms of the development of the value chain in the agribusiness sector in Georgia, at the same time enhancement of import substitution, increase of food safety standards as well as cross-border trading.

“This is exactly a type of project in the private sector that EBRD is proud to support and would like to work with many more local manufacturers and producers, through a variety of financing tools.”

Additionally, the expansion project will receive an incentive grant of €99,000 ($112,755) through EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC), which will be used to install modern building energy management systems in the new farms.

The FINTECC programme has been designed to transfer technology in the area of climate change mitigation and adaptation.

Located in east Georgia, the poultry farm includes a hatchery, breeding farm, rendering and water treatment facility, as well as farmlands, which produce corn and wheat, grain drying and storage facilities to ensure product quality and safety.

Over the last few years, the poultry farm has increased its production capacity and substituted low-quality imports of frozen chicken with quality locally produced goods.

Chirina will also provide a training programme for grain farmers within its supply chain and beyond to increase the adoption of modern farming techniques, raise crop yields and improve quality.

Since 2017, EBRD has been working with Chirina through its international advisory services, which are funded by the EU under the EU4BUSINESS initiative.