IFC Helps Georgian Dairy Producer Improve Efficiency and Help the Environment
Tbilisi, Georgia — IFC, a member of the World Bank Group, has helped a leading dairy producer in Georgia identify opportunities to limit waste, save resources, and reduce environmentally harmful greenhouse gas emissions.
IFC advised Sante GMT Products on the potential savings and environmental benefits of resource efficiency projects. Sante GMT Products has since adopted a program that will enable savings of more than $600,000 per year, after an initial cost of $1.4 million, meaning greater profits within two years. The program reduces energy consumption by at least 16 percent, water consumption by 25 percent, and finds innovative uses for previously wasted by-products like whey.
“IFC’s advice has helped us better understand the potential of using resources more efficiently,” said Annie Kajaia, General Director, Sante GMT Products. “This project will help us improve operations and contribute to a cleaner environment.”
The project is part of the IFC Resource Efficiency Program in Europe and Central Asia, which works across business sectors and with individual companies to encourage investment in resource-efficient technologies and best practices. Its goal is to improve management and operational practices across industries, and raise awareness among policy makers and financial institutions. The program is supported with funds from the Ministry of Finance of Austria.
“The key challenge for many companies in the region is low awareness of efficiency measures and the possible savings,” said Thomas Lubeck, IFC Regional Manager for the South Caucasus. “Our advisory services help fill this knowledge gap and stimulate investment into an area which is important both for private enterprise and the environment.”
Georgia became a member of IFC in 1995. Since then, IFC has invested $607 million in 49 projects across various sectors and supported regional projects developed in the country. IFC has also implemented a number of advisory projects focused on the development of the private sector.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.
For more information about the Ministry of Finance of Austria, please visit: http://english.bmf.gv.at
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