Progress Food Processing
Georgia | Consumer Staples- Identification Code:
- OP/00/0126
- Total Operation Cost:
- — USD
- Maturity:
- 12 months
- Operation Status:
-
BSTDB Approved Amount – Approval Date1.000.000 USD – 02 Mar 2001
-
BSTDB Signed Amount – Signed Date1.000.000 USD – 02 Apr 2001
-
Status:Completed
- Description and Purpose of the Operation:
- The Operation involved the financing of working capital requirements of Progress Ltd., one of the largest producers of flour in Georgia.
- Countries of Operation:
- Georgia (100,00%)
- Financial Product:
- Loans
- Sector:
- Consumer Staples
- Domain:
- Private
- Borrower/Client:
- Progress Ltd has been established in 1995 and located in Rustavi, Georgia, one of the industrial centers of Georgia close to Tbilisi. The activity of the company is production of flour. The company is owned by Georgian and Russian citizens.
- Co-Financers/Participants:
- —
- Guarantors/Sponsors:
- —
- Developmental and Regional Cooperation Impact:
- The Operation helped the company to gradually increase its exports to the neighboring countries, Armenia and Azerbaijan and also contributed to promote trade between some of the BSTDB member countries, as the company imports grain from Russia, Ukraine and Bulgaria.
- Environmental Classification and Impact:
- The Operation was in compliance with BSTDB's Environmental Policy.
- Operation Leader:
- General Industries, Transport, Tourism 1
- E-mail:
- gitt1@bstdb.org
As of 28 Feb 2026
