Georgia: Loans worth GEL 242 M disburse in Kakheti region for wine production

Over the past nine years, loans worth more than GEL 242 million have been issued in the Kakheti region for wine production, with state co-financing exceeding GEL 46 million.

The Minister of Environment Protection and Agriculture, Otar Shamugia, together with the State Representative in Kakheti Region Irakli Shioshvili, inspected the winery of GRW Ltd, a beneficiary company of the Rural Development Agency, in Kvareli Municipality.

“It is especially important for the development of the viticulture and winemaking sector to create enterprises that meet modern standards.

The company “GRW” Ltd. exports wine to several countries, including the United States. Promoting modern production is important for our growers to be able to deliver quality grapes at appropriate prices, to get quality wine and export it outside the country,” Otar Shamugia said.

The company “GRW” Ltd used the preferential agro-credit for the purpose of developing wine production. A total investment of 13 million GEL was made to create a winery. 

The plant, which produces 4,000 tons of grapes, employs 30 people on a permanent basis and 40 seasonally. The company exports its produced wines to the US, China and European markets.

It should be noted that in the Kakheti region, within the framework of the “Preferential Agro Credit Project”, since 2013, banks have issued loans worth more than 242 million GEL for wine production; The co-financing issued by the Rural Development Agency exceeds GEL 46 million.

Zurab Kvaratskhelia

Recent Posts

Georgian Public Defender office held a meeting regarding  election

On June 18, the representative of the public defender office of Georgia held a meeting…

13 hours ago

Georgia  signs conventions on cybercrime and extradition

At the initiative of the Prosecutor's Office of Georgia, the Republic of Georgia signed the…

14 hours ago

Kvareli: Municipality gets waste collector vehicle

The Municipality of Kvareli acquired a new waste collection vehicle to maintain cleanliness in the…

15 hours ago

Kutaisi Youth Centre continues to support youth welfare initiative

The Kutaisi Youth Center has been making every effort to uplift the standard of living…

16 hours ago

Education Ministry and Adjara Agricultural Ministry signs MoC

In a significant development, a Memorandum of Cooperation (MoC) was signed between the Ministry of…

17 hours ago

Prosecution office busted international racket behind money laundering

The Georgian prosecution service office has busted an international racket involved in laundering large amounts…

18 hours ago