Kvarlis Baga

completed

Kvareli Baga Ltd is a dairy farm established in 2011, operating in the fast growing Georgian dairy market and managed by a livestock expert from Israel. As of today, the Farm is fully operational and supplies raw milk to the largest Georgian dairy product processors.. " The Proposed IFC loan will be utilized for: (i) to increase dairy farms existing capacity from 116 milking cows to 350 milking cow; and (ii) working capital requirement (collectively the “Project”). The total Project cost is estimated at US$ 8 million. The proposed IFC investment is a US$2 million A loan for IFC’s own account".The Company is targeting the continuous lactation of 350 dairy cows. The first stage has been successfully completed with a combination of sponsor equity and loan funding from local banks and EBRD. The initial 132 Holstein heifers were delivered in 2013 and currently 116 cows are in full lactation. Forage and grain is sourced from land (210 ha) currently owned by the Company and its shareholder in close proximity to the dairy to satisfy all of its forage (alfalfa and silage) requirements and 30% of the corn grain requirements.