U.S. International Development Finance Corporation (DFC) and Gazelle Finance Launch Facility to Support Ukrainian Companies Displaced by War

Gazelle Finance’s home investment countries – Georgia and Armenia – are experiencing unprecedented inflows of economic migrants from Ukraine, Belorussia, and Russia as a result of the ongoing conflict in Ukraine. FMO funds a “Bridge” TA facility to identify SMEs relocating from Ukraine to Georgia and provides them with (i) expatriation and relocation services (ii) technical assistance in the form of fund-wide support projects, zero interest loans and grants to maintain business continuity and enable knowledge transfer.

Gazelle Finance invested $500,000 in Fruit Logistics, which is 100% owned by Nino Kapanadze. The use of proceeds was used to build out new cold storage and warehouse facilities and to provide working capital financing to enable the company to handle over 100,000 tons of fresh fruit and vegetables per year. In addition, with the support of USAID Georgia, Gazelle Finance will provide technical assistance to support the company’s transition to near 100% on-grid generated renewable energy with the installation of 130.9 KW of roof installed solar panels, which will generate $30,000-40,000 in energy savings per year.

Prime Concrete Established in 2008, Prime Concrete (http://www.primeconcrete.ge/en/) works as an EPC contractor in marine construction, water infrastructure and other civil work projects. Since 2012, the company created a portfolio of USD 53 MN in infrastructural projects. Prime Concrete also owns concrete production facility and manufactures aggregates for concrete and asphalt.