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Rural Development Project

Rural Development Project

 

The project initially targets some 300 rural community groups in eastern, central and western Georgia, establishing a model that can be replicated nationally to respond to rural poor people’s needs for financial services. Activities are concentrated in geographical areas that produce commodities and show potential for commercial agriculture and related businesses in the agricultural supply chain. 

The project provides direct support to the community groups, which include small and medium-scale farmers and their associations and companies involved in the marketing chain. The objective is to build their technical and institutional capacity for interaction. The overall goal is sustained growth of rural incomes and employment, and reduction of poverty. Activities include:

  • developing agricultural supply chains that add value and give farmers a competitive advantage. The aim is to expand profitable domestic and export market opportunities by improving market linkages and providing appropriate technology.
  • supporting rural financial services by providing a credit line for commercial banks and a microcredit line to non-bank financial institutions, and by building the capacity of participating institutions to deliver financial services
  • supporting legal and institutional reforms that heighten the competitiveness of Georgian agriculture, the marketability and safety of its products, and its compliance with international sanitary and trade obligations

Source: IFAD


Status: Closed

Country

Georgia

Approval Date

19 April 2005

Duration

2005 - 2011

Sector

Credit and Financial Services

Total Project Cost

US$ 34.7 million

IFAD Financing

US$ 10 million

Co-financiers (International)

World Bank: International Development Association US$ 10 million

Japan US$ 4.5 million

Co-financiers (Domestic)

Domestic Financing Institutions US$ 2.9 million

National Government US$ 2.47 million

Beneficiaries US$ 4.84 million

Financing terms

Highly Concessional

Project ID

1100001325

Project Contact

Dina Saleh


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