IFC helps Armenian food producers and retailers ensure food safety, increase sales

IFC, a member of the World Bank Group, is helping food producers in Armenia improve their food safety practices, part of an effort to increase their competitiveness and improve their access to local and international markets.

At a round-table discussion with the local retailers and food producers today, IFC representatives introduced a new Global Markets Program, which is designed to improve food safety in Armenia’s retail supply chain.  The program will enable local producers to gradually comply with international food safety standards and become sustainable partners for large retailers.

“Improved food safety will help manage risks in the supply chain and enhance the market position of producers, as well as retailers,” said Maia Tevzadze, IFC’s Armenia Food Safety Improvement Project Manager. “Most importantly, improved food safety in the retail supply chain will benefit consumers in Armenia.”

The initiative is part of the IFC Armenia Food Safety Improvement Project which draws on IFC’s global and regional expertise to help Armenia’s food producers adopt the best international food safety practices. The project is supported with funds from the Ministry of Finance of Austria.

Armenia became a member and a shareholder of IFC in 1995. Since then, IFC has invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. IFC advisory services provide advice on the financial sector, sustainable energy, regulatory simplification, and food safety.

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