Almaty, Kazakhstan, August 25,
2010—IFC, a member of the World Bank Group, is providing Ust Kamenogorsk
Poultry Farm with a $2 million financing and advisory services package
that will help the company expand production and improve standards to meet
growing domestic demand, reducing the country’s reliance on imports.
The support from IFC and from KazAgroFinance, a government-sponsored agricultural
leasing company, will enable a $30 million capital expenditure program
for UKPF, Kazakhstan’s only domestic supplier of chilled poultry meat.
The program includes expansion of annual production to 16,000 tons,
modernization of operations, and improvements to bird nutrition and bio-security.
In addition, IFC Advisory Services will provide guidance on upgrading the
company’s food safety standards and energy efficiency.
“This partnership with IFC is very important for us as we continue to
expand our operations and improve our production standards,” said Serik
Tolukpayev, UKPF Chairman of the Board. “IFC’s financial support and
technical advice will help us become more efficient and expand our capacity
to supply Kazakhstani consumers with high-quality chilled meat.”
“We are pleased to partner with Ust Kamenogorsk Poultry Farm on IFC’s
first agribusiness transaction in Kazakhstan." added Tomasz Telma,
IFC Senior Country Manager for Central Asia and Azerbaijan. “By supporting
strong companies in the agribusiness sector IFC can help Kazakhstan realize
its strong potential in primary agriculture and food processing and reduce
the current dependency on imports.”
Agribusiness is a priority sector for IFC in Europe and Central Asia: at
June 30, 2010, IFC’s agribusiness investment portfolio in the region stood
at $1.4 billion. For fiscal year 2010, IFC’s new agribusiness commitments
in the region totaled $522 million. IFC advisory programs are helping to
strengthen agricultural supply chains, increase food safety, develop agri-insurance,
and improve access to finance for farmers and entrepreneurs.
As part of IFC's special initiative to increase investments in Central
Asia and Azerbaijan, our new investments in Kazakhstan reached a record
$353 million in fiscal year 2010.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.