Georgian wine company "Teliani Valley" has received funding of $ 2 million from the U.S. government agency OPIC in the form of the second tranche.
The transaction was carried out on the basis of the $15 million worth project, drawn up by the parties in 2011. Of this amount, a long-term loan of $ 8 million will be provided by OPIC, and $7 million invested by the Georgian company itself.
The first tranche of the project worth $ 5 million was launched in January 2012 and spent for the construction of a new venture for the production of champagne and development of grape farms. The second tranche will cover the development of the tourist course of the company, expansion of wine production and export growth in the U.S.
OPIC is the largest U.S. government organization that reports directly to Congress and contributes to the development of private business backed by American capital in different countries of the world. 25 percent of "Teliani Valley" belongs to the American Foundation "Fire Birds".