Existing Agribusiness projects to continue in 2023: Otar Shamugia

Tbilisi: The Georgian Minister for Environmental Protection and Agriculture, Otar Shamugia, stated that the currently existing agribusiness projects, launched in 2022, will continue to be effective in 2023 as well. 

Shamugia noted, “Agrocredit project covers almost all fields of agriculture. In the form of interest rate subsidies, more than 650 million GEL was co-financing. In recent years, more than 40,000 beneficiaries have benefited from this project, and 5 billion GEL loans have been sanctioned.” 

Adding further, he stated that In 2023, Georgia would have significant growth in terms of benefits and co-financing not only towards lucrative agro credit but also all programs that include implant future, “co-financing project of processing and storage enterprises.

 Moreover, the agriculture ministry has increased funding for all of these projects. So far, 200 million GEL is allocated in the budget for co-financing of the project of ‘Integrated Future’ and co-financing programs of processing and retaining enterprises, where we have an annual growth budget as demand grows. 

“Under the Plant for the Future Program, if we funded 1500-2000ha of gardens in the first years, this year, about 3,500ha of new gardens have already been contracted. Under our recycling and storage facility co-financing project, we were able to co-finance up to 220 new processing and retaining businesses”, Agriculture Minister Shamugia noted. 

Within the framework of the project, about 300 million GEL worth of investment was made, from which the budget share is 100 million GEL. The majority of the plants are up and running; some are under construction. In this direction, from 220 contracts, 55 have been signed only this year. Demand is growing here, – Otar Shamugia said.

 As the Minister noted, for people interested in agribusiness, all existing projects will continue in the future. In addition to this, to promote the processing of waste, the co-financing program of harvesting machinery will work.

Within the framework of the program initiated by the Prime Minister, in the last two years, Georgia brought 150 million GEL worth of new equipment, for which 50 million GEL was allocated and more than 1,200 supporting equipment were imported into the country.

 For the next year, we have 17 million GEL allocated to continue financing and supporting our farmers for both harvesters and other types of machinery,” said Otar Shamugia.