BAKU, Azerbaijan, Dec.29
By Tamilla Mammadova – Trend:
With financial support from VTB Bank, Georgia imported 27,000 tons of high quality US wheat and 4,000 tons of high quality US soybeans, Trend reports via Georgian media.
This became possible thanks to the agreement between Poti Grain Terminal Ltd and the American company Land O'Lakes, according to which a ship with US goods entered Poti.
Imports of US wheat to Georgia will allow the mills to buy and process high quality wheat at market prices.
The US wheat is imported by the US government under the Food for Progress Assistance Program for Georgia. The proceeds from the program will be used to support and finance local projects in Georgia.
High quality US wheat was imported to Georgia for the second time with full funding from VTB Bank. For the first time, a similar transaction took place in 2019 with the financial support of the Bank between the Poti grain Terminal and the American side.
Ketevan Kublashvili, director of the Poti Grain Terminal, said the project is very important for diversifying wheat import sources.
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