Highland regions of Georgia to receive benefits

Business Materials 21 December 2019 10:20 (UTC +04:00)

BAKU, Azerbaijan, December 21

By Tamilla Mammadova – Trend:

Georgian government approved innovations in the "Produce in Georgia" program, which also include a micro-grant component for high mountain regions, Minister of Economy and Sustainable Development of Georgia Natia Turnava said, Trend reports citing Georgian media outlets.

“We have appointed benefits for the highlands in the form of micro-grants, which offer small co-financing from the state,” Turnava said.

According to the minister, the "Produce in Georgia" program with all its components, whether it is co-financing loans, leasing or providing micro-grants, is aimed at the population and at small and medium enterprises.

“In regions, especially in those where we want to create new jobs, the program is aimed at stimulating exports and increasing the competitiveness of Georgian-made goods,” Turnava said.

In the framework of supporting micro and small business, 6,212 projects were approved in 2015-2018.

The state allocated over 46.9 million lari ($16.2 million) in the form of co-financing. The total investment of the funded projects amounted to over 61 million lari ($21 million). A total of 9,384 beneficiaries were funded.

The "Produce in Georgia" program was created in the summer of 2014 to stimulate local production and offers two main incentives: financial resources and infrastructure (land, buildings, etc.). In April 2017, the agency of the same name was created, which combined all state programs aimed at promoting the business sector and economic development of the country.


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