Produce in Georgia agency presents new export subsidy project

Finance Materials 1 September 2021 17:30 (UTC +04:00)
Produce in Georgia agency presents new export subsidy project

BAKU, Azerbaijan, Sept. 1

By Tamilla Mammadova – Trend:

Produce in Georgia agency presented a new export subsidy project, Trend reports via Georgian media.

Under it, companies, which are focused on exports will be able to obtain co-financing from the state on loans of up to 10 million lari ($3.2 million) taken in banks.

The program aims to support Georgia's export opportunities. So far, it is unknown how many million lari the project budget will be and consequently how many businesses will be able to use it.

The goal of the program is to increase the country's export potential and support entrepreneurship in Georgia by expanding and re-equipping new or existing enterprises, supporting the entrepreneurial entity, and replacing imported goods with locally produced ones.

The terms of the program are:

Loan co-financing: refinancing rate minus 5 percent;
Loan guarantee: 60 percent of the loan amount;
Grant: 15 percent of the loan (not more than 500,000 lari/$161,254);
Duration: 10 years;
Loan amount: 50,000 lari/$16,125 -10 million lari/$3.2 million

The program also supports the development of agro and eco-tourism. This is an intensive support program for the development of agro and eco-tourism facilities in the regions.

The program will finance local and international info-tours, staff training and will provide funding for the participation in tourism exhibitions.


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