BAKU, Azerbaijan, Oct. 27
By Maryana Akhmedova – Trend:
Georgia’s TBC Bank is launching a new project for the development of poultry and fruit business in the country and offers financial resources to start-up farmers in this field, Trend reports via Georgian media.
The main condition of the agro-startup is that farmers should consult with the agro-company selected by TBC Bank.
TBC Bank will cooperate with “Agro-Com” company in the field of fruit growing, which has been successfully operating on the Georgian market for many years.
Meanwhile, TBC Bank will work together with the “Nutrimax” company in the field of poultry factory, which is a leader in the local market in the production of poultry and animal feed.
“According to TBC Bank’s research, fruit growing and poultry production sectors have low self-sufficiency and are dependent on imports. Thus, we decided to help beginner farmers to develop these areas,” Shota Gongladze, Agricultural Economist at TBC Bank, said.
“TBC Bank will allocate financial resources and establish cooperation between farmers and experienced professionals in the field, who will supervise them throughout their activities, help them to understand the technological process correctly, process the cost and provide the means of production,” he added.
The goal is to assist in the cultivation of orchards of modern standards, which will enable them to supply the population of our country with local products of high quality and capture new export markets, TBC Bank representative said.
The financial resources that TBC Bank offers to farmers in the fruit growing sector range from 20,000 Georgian lari ($6,389) to 1.5 million Georgian lari ($479,233). The maximum loan term is 10 years.
In the case of poultry production sector, TBC Bank will discuss projects individually with the farmer. The beneficiary should present a calculation of the financial resources allocation and also have an idea of the projected income.
Furthermore, the “Preferential Agro Credit” state program will also assist in the funding of the present agricultural project.
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