Georgia to cover 6 months of interest on agriculture loans

Georgia to cover 6 months of interest on agriculture loans

BAKU, Azerbaijan, August 10

By Tamilla Mammadova – Trend:

Under the Care for the Village and Farmers anti-crisis agricultural program, farmers and entrepreneurs enjoy significant assistance from the state in Georgia, Trend reports citing Georgian media.

As of August 7, more than 132,000 farmers collected agricultural points, with allocated subsidies exceeding 23 million lari ($7.5 million). Allocation of agricultural points continues.

Almost 112,000 beneficiaries received discount cards for over 29,000 tons of agricultural diesel. Farmers who have cashed their cards have saved almost 3.6 million lari ($1.1 million). Agricultural diesel discount cards expire on December 31, 2020.

As many as 15,334 subscribers were exempt from amelioration fees in 2020, with 2.08 million lari ($678,919) saved. In addition, farmers' debt to Georgian Amelioration LLC accumulated prior to 2020 were written off in full.

Furthermore, the state will cover six months of interest on loans for ongoing expenses to grow annual cultivars under the affordable agricultural credit program, and 1,707 loans have been issued to amount to over 31 million lari ($10.1 million).

As of July 31, over 16,000 policies were issued under the agricultural insurance program, with over 17,000 hectares of land insured, that is, up by 34 percent year-over-year. The value of insured crops exceeds 150 million lari ($48.9 million).

Under the state program for modernizing dairy farming and access to the market, more than 1,000 applications were filed from the regions of Imereti, Kakheti, Samegrelo and Zemo Svaneti, Samtskhe-Javakheti, and Kvemo Kartli.

The program for promoting agricultural production encompasses 387 beneficiaries, including 50 percent of the price of agricultural equipment financed for 252 beneficiaries. The applications of 135 beneficiaries were upheld to finance the purchase and installation of basic means for building and modernizing greenhouse farms, also the purchase and installation of amelioration systems for growing annual agricultural cultivars.

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Follow the author on Twitter: @Mila6197935

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