Georgia extends business, agriculture support programmes | Eurasia Diary - ednews.net

8 August, Saturday


Georgia extends business, agriculture support programmes

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The Ministry of Agriculture has extended support programmes for business and agriculture, and offers grapes, hazelnuts and tea producers an effective support package, said Georgian Prime Minister Giorgi Gakharia earlier today, EDNews.net reports citing Agenda.ge.

Starting with the 2020 autumn grape harvest, companies which collect grapes will be able to benefit from preferential agro-credit.  

Also, beneficiaries will no longer be obliged to produce a defined amount of grapes in case they receive credit for producing wine and alcoholic beverages.

The limit of the preferential agro-credit for ‘funding the food industry’ has increased from 5 mln GEL ($1.64 mln/€1.45 mln) to 10 mln GEL ($3.27 mln/€2.92 mln).

Moreover, agro leasing for the food industry has increased from 5 million GEL to 10 million GEL. Also, the interest rate of the leasing will be co-financed for 36 months instead of 24.

In addition, hazelnut and tea growers will have more support in receiving co-financed loans to promote hazelnuts and tea productions in the country.

Some changes will be implemented in the state programme ‘plant the future’ based on which setting up anti-hail and irrigation systems will be co-financed. The financial assistance will be provided for the establishment of new nursery farms and / or modernization / expansion of the existing nursery farms.

Back in May, the government presented its agricultural anti-crisis plan involving support for farmers through various state programmes amid the coronavirus crisis.

Then, Prime Minister Giorgi Gakharia said that Georgia needs to industrialise the agricultural sector and increase productivity.

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