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Proparco and FMO support Armenia’s leading agribusiness company


Proparco and the Dutch development bank FMO are providing $10.75 million each to Spayka LLC, the largest exporter of the Armenian fruits and vegetables playing a key role in the country’s agribusiness sector.

The purpose of the funds is the construction and operation of 20 hectares of greenhouses using the best available “semi-closed” technology supplied by a French horticulture equipment specialist Richel for growing high quality tomatoes and bell-peppers. The new greenhouse will allow Spayka to produce up to 8,000 tonnes of tomatoes and 1,000 tonnes of bell-peppers every year.

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