Georgia reveals number of agricultural loans issued in country
BAKU, Azerbaijan, Sept.12
By Tamilla Mammadova – Trend:
Some 2,062 agricultural loans were issued in Georgia as of September 11, 2020, Trend reports via the Ministry of Environment Protection and Agriculture of Georgia.
The total loan amount exceeds 37 million lari ($11.9 million), including co-financing of interest from the ministry exceeds 3 million lari ($971,239).
Meanwhile, under the preferential agricultural lending program, the state fully covers the 6-month interest rate to finance the current costs of growing annual crops.
This year, to reduce the economic damage from the spread of the new coronavirus, a change in the preferential agro-credit project is taking place.
By decision of the government, state programs for supporting agribusiness are being expanded.
Government programs include hazelnut processing, tea and food processing, and grape processing.
Another new component recently appeared in the concessional agricultural lending program to support apple growers. In particular, under the state program, the Rural Development Agency will provide a subsidy of 0.10 lari (3.24 cents) per 1 kg of non-standard apples.
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