BAKU, Azerbaijan, Nov.17
By Tamilla Mammadova – Trend:
The USAID Agriculture Program and TBC Bank offer co-financing to entrepreneurs in the agricultural sector of Georgia, Trend reports via EastFruit.
The program, which consists of several components of the USAID Agricultural Program, includes the following components: grant financing and technical assistance, from the TBC bank - financing the funds required for the project participants.
The grant can be received by both individuals and legal entities, and agricultural cooperatives.
“USAID's agricultural program promotes sustainable economic development in Georgia and strengthens small and medium-sized entrepreneurs to create additional jobs and increase rural incomes. The initiatives developed under the program are fully in line with the Rural and Agricultural Development Strategy of the Georgian government. The program supports agricultural cooperatives and has an impact not only on individual farmers and entrepreneurs, but also on the development of the sector as a whole,” said Luiza Namicheishvili, head of USAID's Agricultural Program in Georgia.
The program will finance projects that include the storage and processing of the following crops: berry crops, greens, stone fruits, seed fruits, perishable vegetables, tangerines, table grapes and nuts (excluding hazelnuts). The use of grant funds is permissible only for the purchase of production equipment and inventory.
Technical assistance from the USAID Agricultural Program includes the following areas: modern agricultural technologies, implementation of international food safety and quality standards and promotion of certification, introduction of bio and organic standards, marketing, branding, promotion of market access and development of business ties. In addition, within the framework of the USAID-TBC cooperation, non-financial services, including qualified consulting assistance, will be available to farmers.
For people employed in the agricultural sector, TBC will provide targeted financing: in the case of the acquisition of fixed assets, within the framework of preferential agricultural loans, in the case of processing enterprises, within the framework of the loan guarantee scheme for government projects and within the framework of agricultural loans for the innovative product of TBC Bank with a long grace period, only taking into account the projected income.
In addition, farmers can receive money from TBC for additional payments for land, buildings, vehicles, necessary working capital, including raw materials, purchase and installation of technological lines and equipment.
“Our cooperation with USAID is aimed at supporting people employed in the agricultural sector. We offer them the availability of resources, which is very important for the development of the sector. In addition, with the help of our qualified specialists, we will help people make the right decisions and chart the right ways to develop their business,” said Shota Gongladze, TBC service expert on family farming.
---
Follow the author on Twitter: @Mila6197935