Produce in Georgia agency to begin accepting applications for its Micro and Small Business Support Program
BAKU, Azerbaijan, Sept. 22
By Tamilla Mammadova – Trend:
Produce in Georgia agency will begin accepting applications for its Micro and Small Business Support Program on October 5, with registration running through October 18.
The budget of the program has been increased to 40 million laris ($12.4 million), and the maximum amount of grants increased to 30,000 laris ($9,289).
Grant receivers are obliged to contribute 10 percent of the total project instead of 20 percent, while people living in the mountainous regions will only have to invest 5 percent.
Individuals who have previously benefited from the program will still be able to grow their business or start a new project. In this case, the winners have to contribute 25 percent of the total grant, unless they live in the mountainous regions of Georgia, where the contribution has to be 15 percent.
“The program aims to develop micro and small businesses, establish a modern entrepreneurial culture, and create employment opportunities in Georgia. Moreover, it supports the response to the economic challenges caused by the COVID-19 pandemic,” says the report.
The program has already provided grants for 6,212 projects, with total investments of more than 61 million laris ($18.9 million).
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