BAKU, Azerbaijan, January 5. The Asian
Development Bank (ADB) has signed a $50 million loan agreement with
Georgia’s JSC Rustavi Azot (Rustavi Azot Indorama) to modernize its
fertilizer production facilities using energy-efficient
technologies, ADB said, Trend reports.
The financing will support upgrades to the company’s existing
ammonia and high-density ammonium nitrate plants, including the
installation of energy-efficient equipment aimed at strengthening
fertilizer supply chains and reducing energy use.
ADB said the project is expected to cut greenhouse gas emissions
by about 120,000 tonnes of carbon dioxide equivalent per year,
making it a cost-effective measure to help mitigate the impacts of
extreme weather events.
Part of the loan has been structured as a green loan in line
with the Green Loan Principles issued by the Loan Market
Association, with proceeds earmarked for eligible green
projects.
In addition, ADB has mobilized $500,000 in technical assistance
to support capacity building for smallholder farmers in Georgia,
with a focus on women. The programme will promote climate-resilient
farming practices, sustainable soil management and efficient
fertilizer use to prevent land degradation, restore soil health and
boost agricultural productivity.
The project aligns with ADB’s goal to invest $40 billion in food
systems transformation across Asia and the Pacific between 2022 and
2030, including $11 billion through private-sector operations.
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