ADB signs agri loan to boost exports of Armenia's Spayka

The Asian Development Bank (ADB) has signed a $32 million loan agreement with Spayka Limited Liability Company, a food producer and exporter in Armenia, to help the company expand greenhouse operations and increase exports. The project will help expand Spayka's operations, particularly in horticulture and supply chain management, through the development of 30 hectares of climate-controlled greenhouses equipped with drip irrigation systems to produce tomatoes and bell peppers for export, particularly to the Russian Federation and the United Arab Emirates.