As it was announced after meeting between Georgian Prime Minister Mamuka Bakhtadze and President Gilbert Houngbo of the International Fund for Agricultural Development (IFAD), the fund will send a delegation to Georgia, followed by a concrete offer.
The meeting discussed prospects of cooperation and singled out the role of agriculture and its importance for inclusive economic growth.
“The Prime Minister emphasized agriculture’s important role. Agriculture accounts for 40-45% of Georgia’s employed population, and its share in the country’s GDP is 9%. The Prime Minister underscored agriculture’s significance for ensuring inclusive economic growth. We plan to send a delegation to Georgia to deepen our dialogue with the Ministers of Agriculture, Finance, and Economy, and next to formulate a concrete offer,” the IFAD President stated after the meeting with the Prime Minister.
The International Fund for Agricultural Development is a Rome-based international financial institution and a specialized agency of the United Nations. The fund seeks to boost agricultural development and food quality in its beneficiary countries. IFAD assists farmers and small entrepreneurs in adopting and operating different technologies. Since 1978, the fund has allocated 18.5 billion USD worth of assistance in grants and low-interest loans for 464 million people across the globe.