Background

IBEC invests in food security

The International Bank for Economic Co-operation will finance the construction of an advanced poultry production unit. The agreement with the Slovak BRANKO NITRA was signed by the Chairman of the IBEC Board Denis Ivanov. The Slovak company is one of the European leaders in the production of high-quality hatching turkey eggs with almost half a century of history, with partners in more than ten European countries.

The Bank opens a three-year credit line to finance a technological complex and start of production. The project operator will be a subsidiary company, Branco Rus, established in Russia. The production will be located in Tatarstan, where a site for a hatching house with cold rooms and other designated rooms has already been prepared. This investment project, which has received the approval and support of the Ministry of Agriculture of Tatarstan involves strict veterinary controls and complies with the EU regulations. The company is certified to the ISO 9001:2000. Branko produces about 8.5 million hatching eggs annually.

The transfer of incubation technology to Russia will significantly increase the efficiency of poultry operation, optimize price parameters, which is an extremely urgent task for Russia, which is consistently pursuing a course of import substitution, especially against the background of a global rise in food prices. Moreover, the Bank's investments in food security are in line with the objectives of Sustainable Development Goal 2 “End hunger, achieve food security and improved nutrition and promote sustainable agriculture”

 

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