With the support of the Bank of Georgia, Berry Farms planted 30 hectares of blueberry gardens
The Bank of Georgia continues to actively develop and promote business in the regions of Georgia. This time, with the partnership of the bank and Berry Farms, blueberry gardens were planted on 30 hectares in Khobi. The total investment of the project is 2.7 million dollars, the investment of the Bank of Georgia is 3 million GEL, which was attracted through subsidized financial resources.
Berry Farms entered Georgia in April 2023 and, in collaboration with the Agritouch, planted up to 100,000 blueberry seedlings on 30 hectares, yielding a blueberry harvest of up to 400 tons per year. The harvest will be sold internationally, specifically in the Middle East and the United Arab Emirates. Notably, this is the company's first investment in the region. Berry Farms also plans to invest in storage and cold storage facilities.
"In the world market, the blueberry is a steadily growing and developing agro-industry, and Georgia's location will significantly contribute to providing a competitive advantage in logistics to countries with high demand for blueberries. Several important factors influenced Berry Farm's decision to enter Georgia, including the special program for financing perennial crops offered by the Bank of Georgia. It should be noted that the conditions agreed upon with the investor regarding bank financing and state subsidy programs were fully implemented during the investment. All of this increased the investor's confidence in the country and the sector, leading to expectations for additional investments in the future," said Mariam Koyava, the managing partner of the business consulting company SavvY.
"At the Bank of Georgia, one of our top priorities is to support agricultural production and businesses. In order to strengthen and encourage the mentioned sector, the bank supports a number of projects. We are thrilled to partner with Berry Farms, because we believe that such projects will significantly contribute to the development of perennial crops in the regions, positioning Georgia as a blueberry-producing country and establishing its presence in the international market. We have no intention of stopping, as we believe that these initiatives will greatly contribute to the economic strengthening of the regions, which is a precursor to the strengthening of the country," said Nino Aptsiauri, head of the corporate sales sector of the Bank of Georgia.