Georgia: Changes in the State Program have been implemented in accordance with the needs of farmers and persons involved in agribusiness.
The changes make the project more adaptable to the requirements and challenges of different sectors. The government has approved changes in the project “Beneficial Agrocredit“.
With the new editing of the project in 2024, the sub-components have been implemented like in previous years – to finance one-year crops and to finance primary production of nuts;
In sub-components, conditions for developing new perennial crops and the sub-components have been clarified.
All costs of harvesting one-year crops are financed in the sub-component of one-year crops. The loan volume is 10,000 – 100,000 GEL, the co-financing term is 12 months, and the co-finance percentage is 9%.
In the primary nut production sub-component, all the costs of harvesting in nut orchards of more than 3 hectares are financed (1 hectare more than 3000 GEL); loan volume – 5,000 – 300 000 GEL, co-financing term – 12 months, co-finance percentage – 8%.
According to the changes presented for the financing of grazing, carnivorous, combined direction, and construction farms, the beneficiary will be obliged to provide for the loan co-financing period in the case of meat—the existence of not less than 1 ha of pasture and not less than 0.5 ha of farm per person.
It is noteworthy that the change in the sub-component for financing the primary production of nuts, with which the upper limit of the loan amount granted to one beneficiary increased and was defined from 5,000 GEL to 300,000 GEL, and the maximum loan volume for primary production of nuts increased to 1 ha, was determined by no more than 3,000 GEL.
The Rural Development Agency has implemented the “Convenient Agrocredit Project” for over ten years. The project’s main objectives are to provide farmers and agribusiness people with cheap, long-term, and accessible cash and to improve primary agricultural production, processing, and storage-realization processes.
