BAKU, Azerbaijan, Dec.7
By Tamilla Mammadova – Trend:
With the support of Produce in Georgia agency Industrial and Credit Guarantee components, two fishing companies - LTD NANA 25 and LTD TEMO have expanded, Trend reports via Georgian media.
According to the co-founders, by purchasing the new ships, the yearly production will exceed at least ten times, in particular, with new vessels fishermen will catch up to 5,000-7,000 tons of foam for a processing plant, additional 250-300 tons of foam sorted for export. The vessels are equipped with all the tools needed for safe fishing.
The fisherman is the agency’s financial support mechanism, as part of which Produce in Georgia agency will be co-financing the fishing ship’s leasing interest rate for the first 3 years, as well as 90 percent of the loan, which the companies got to expand their business, will be guaranteed by the Georgian Government.
Supporting the fishing sector as a segment of the maritime industry is now one of Produce in Georgia's priorities, which is a result of the collaborative work between the Georgian Ministry of Economy and Sustainable Development, Produce in Georgia agency, and the Maritime Transport Agency of Georgia.
Through the program’s support, the fishing fleet will enhance considerably and, as a result, create new work opportunities. Implementing modern technologies in the sector will considerably increase the diversity, as well as the volume, of sea produce and the geographic reach of its distribution.
The program simultaneously gives out under 5 million lari ($1.5 million) of support as part of the Credit Guarantee Mechanism (providing a 90 percent guarantee) and refinancing of the Bank loan plus the 3 percent co-financing opportunity. It is also possible to lease a ship. In this case, the re-financing commission plus the 5 percent co-financing mechanisms are activated.
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