IFAD to allocate loan to Georgia for agricultural development

Georgia, Tbilisi, July 21 / Trend N. Kirtskhalia /

Georgian Deputy Finance Minister Natia Mikeladze submitted a financial agreement on an agricultural assistance project signed between Georgia and the International Fund for Agricultural Development (IFAD). The agreement will be ratified at a meeting of the Georgian Parliamentary Agricultural Committee.

"The agreement envisages the allocation of a loan worth roughly $8 million, which will be spent on raising the incomes of the population living in villages and engaged in agricultural activities," she said.

The project plans to render support for leasing operations in villages and invest in the small-scale rural infrastructural development.

In accordance with the agreement, the project will be implemented over four years.