Tbilisi, Georgia, June 24, 2013—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