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Georgian TBC to offer better conditions to wineries under Preferential Agro Credit project

Business Materials 15 July 2020 16:52 (UTC +04:00)
Georgian TBC to offer better conditions to wineries under Preferential Agro Credit project

BAKU, Azerbaijan, July 15

By Tamilla Mammadova – Trend:

Georgian TBC Bank will offer more favorable conditions to wineries under Preferential Agro Credit Project initiated by the Ministry of Agriculture of Georgia, Trend reports referring to Georgian media.

The initiative aims to simplify the work of winemakers and give them the opportunity to participate in the upcoming harvest festival Vintage 2020 in Georgia.

The grape processing enterprises will have an opportunity to apply for a loan from 20,000 lari ($6,554) to 15 million lari ($4.9 million). The project's new terms envisage co-financing up to 11 percent of the annual interest accrued on the loan for a period of up to 48 months.

TBC Bank has been participating in the project for 7 years, and more than 11,000 farmers have been benefited from it.

Preferential Agro Credit Project has been initiated by the ministry of agriculture of Georgia and has been implemented by the Agricultural Projects Management Agency since 27 March 2013.

The purpose of the project is to improve the primary agricultural production as well as processing, storage and sales operations by providing farmers and entrepreneurs engaged in agriculture with cheap, long-term and preferential funds.

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