Tiryaki Agro and IFC Unite for Agricultural Security Initiatives
A Strong Step for Food and Feed Security
Tiryaki Agro Holding, Türkiye's foremost agricultural supply chain company, has embarked on an exciting partnership with the International Finance Corporation (IFC), a faction of the World Bank Group. This collaboration marks a significant advancement aimed at improving food and feed security in Iraq. The relevant signing ceremony took place during the IFC Partnerships Day, symbolizing the two decades of impactful growth in the region.
Introduction of Food and Feed Security Compounds
This initiative initiates a feasibility study for constructing Food and Feed Security Compounds (FFSCs) throughout Iraq. Designed to be a comprehensive, private-sector initiative, it aims to bolster the agricultural infrastructure and overall food security within the country.
Feasibility Studies and Environmental Assessments
The initiative's first phase will concentrate on conducting thorough feasibility studies and Environmental & Social (E&S) screenings according to IFC Performance Standards. These evaluations will play a crucial role in confirming market demand, maximizing costs, and securing long-term sustainability for the program.
Objectives of the Initiative
With a responsible approach, this project is structured to:
- Carry out in-depth analysis of soil and water resources to determine suitable crop patterns and boost productivity.
- Include renewable energy solutions and modern silo storage systems to minimize losses and secure supply chains.
- Introduce training and capacity-building programs for local farmers, promoting sustainable farming practices.
- Establish a robust infrastructure for agribusiness and enhance food and feed security across Iraq.
Investment and Initial Funding
The investment will follow a phased approach, with an initial commitment exceeding $120 million. This is part of a broader project aiming at enhancing sustainability in agriculture.
Statements from Key Stakeholders
Süleyman Tiryakio?lu, CEO of Tiryaki Agro, stated:
"This initiative is crucial not only for Iraq's food and feed security, but also a vital step towards fostering regional stability. Our strong partnership with IFC presents a wonderful opportunity to introduce Tiryaki Agro's 60 years of experience in the food supply chain to this region. "
Fatih Tiryakio?lu, Head of Emerging Markets at Tiryaki Agro, highlighted:
"The forthcoming feasibility studies will offer insights into Iraq's agricultural landscape, focusing on sustainable practices and modern infrastructure development. Our goal is to enhance agricultural productivity while contributing to sustainable growth and regional development goals. This partnership signifies our dedication to ensuring food security for both current and future generations. "
Evolution of Tiryaki Agro in Iraq
Tiryaki Agro has consistently demonstrated its commitment to being a key player in Iraq's agricultural sector. In recent times, the company launched one of the largest agribusiness projects in the country – a soy crushing and corn storage facility in Umm Qasr, which produces one million tons annually and serves nearly half of Iraq's feed market.
This collaboration is seen as a progressive move that builds upon a previous financing package of $112.5 million arranged by the IFC, emphasizing Tiryaki Agro's ongoing dedication to developing Iraq's agricultural capabilities for the long-term future.
About Tiryaki Agro
With a legacy spanning 60 years, Tiryaki Agro is recognized as a leader in the agricultural supply chain industry. Their comprehensive model encompasses everything from certified seed production to processing, logistics, and distribution. They proudly deliver nutritional solutions across the globe while remaining committed to environmental sustainability. Each year, the company processes products from over 45 countries, managing 29 facilities and distributing 5 million tons of agricultural goods worldwide.
Frequently Asked Questions
What is the main objective of the Tiryaki Agro and IFC partnership?
The main aim is to enhance food and feed security in Iraq through the establishment of Food and Feed Security Compounds.
How much is the initial investment for the project?
The initial investment exceeds $120 million and is part of a larger agricultural development initiative.
What types of studies will be conducted under this partnership?
The partnership will involve feasibility studies and Environmental & Social screenings to assess agricultural needs and sustainability efforts.
How does Tiryaki Agro contribute to local communities?
Tiryaki Agro is committed to supporting local farmers through training programs and improving their agricultural practices.
What is Tiryaki Agro's track record in Iraq?
Tiryaki Agro has a significant presence in Iraq, having established major agribusiness investments that contribute to local food security and employment.
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