BAKU, Azerbaijan, Dec. 27
By Maryana Akhmedova – Trend:
Georgian Government will launch a new pilot program, which will be mainly funded by the EU, to support small and medium-sized enterprises (SMEs) in 4 regions: Imereti, Kakheti, Guria and Racha-Lechkhumi, Kvemo Svaneti, the Minister of Environmental Protection and Agriculture of Georgia Levan Davitashvili said, Trend reports via Georgian Ministry.
According to the minister, the program will financially support the expansion or modernization of the existing enterprises, as well as fund the creation of new enterprises.
In particular, under the new program, businesses will benefit from preferential loans, with a co-financing interest rate of 300,000 Georgian lari to 1 million Georgian lari ($97,700-$325,700) for 2 years.
Meanwhile, an additional grant agreement, which can account for a maximum of 60 percent of the total loan amount, will be up to 600,000 Georgian lari ($195,400), Levan Davitashvili said.
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