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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