Preferential Agro Credit Project

The Ministry of Environmental Protection and Agriculture has initiated the Preferential Agrocredit Project aimed at promoting primary agricultural production, as well as processing, storage and sale of agricultural products, by providing respective legal and natural persons with cheap, affordable funds on preferential terms


Preferential Agro Credit for Fixed Assets

Under the component of ‘Preferential Agro Credit for Fixed Assets' the Agency shall finance certain part of the loan interests, allocated by Bank for the fixed assets of the enterprises producing and processing agricultural products.

Under the component of ‘Preferential Agro Credit for Fixed Assets' loans will be given for financing new agricultural processing enterprises and extension of the existing ones for the following  purposes:

 a) processing enterprises;

  • meat, fish and milk processing
  • production of alcoholic beverages
  • tea production and/or packaging
  • fruit, vegetable and berry processing
  • walnut and nut processing
  • wool, leather and fur processing
  • production of vegetable oils (oil, margarine, butter) and "Khalva"
  • tobacco production
  • production of essential oils and spices
  • arranging slaughterhouses
  • processing bee products
  • production of agricultural feed for animals, birds and fish      

b)  infrastructural enterprises:

  • warehouses for storing agricultural products
  • grain dryers
  • coolers for storing agricultural products
  • production of packaging materials for agricultural products
  • production of oak barrels for alcoholic beverages
  • production of wine clay barrels ("Kvevri")

c)  primary agricultural enterprises:

  • animal farms. In case of cattle and sheep and goats the Agency shall elaborate the farm criteria
  • poultry farms
  • poultry breeding farms
  • farms for animals with valuable fur
  • greenhouses and other closed ground enterprises
  • fish production
  • production of bee products
  • production of seedlings and saplings
  • gardens, vineyards, plantations of perennial crops and others

 

For detailed information please visit Web site: http://arda.gov.ge/projects/read/agro_credit/8:child

Terms

Loan amount under this component shall be 20 000 Gel– 1 500 000 GEL and the period of loan shall not exceed 120 months.

The Agency shall co-finance not more than 66 months interest rates in parallel with the amount paid by the borrower (if any), in the amount of annual 11% of the principal loan amount, not more than within 68 months upon granting of the loan.

Preferential Agrocredit Project for the cultivation of annual crops

The Preferential Agrocredit Project for the cultivation of annual crops envisages partial or full financing of interest on loans disbursed to cover current expenses of annual crop cultivation. The interest is subsidized by Non-Entrepreneurial (Non-Commercial) Legal Entity, Rural Development Agency.

 

The Preferential Agrocredit for annual crop cultivation is disbursed each year from 1 February through 31 October of the same year to finance:

  • Cost of seeds/seedlings and planting materials for annual crops;
  • Cost of pesticides, organic and mineral fertilizers as well as bioprotection of annual crops;
  • Costs of hiring labour resources and agricultural machinery for annual crop cultivation;
  • Costs of fuel and lubricants for agricultural machinery used for annual crop cultivation.

 

Key terms and conditions:

  • The loan amount will equal 5 000 to 100 000 GEL but no more than the maximum annual crop cultivation cost per 1 hectare (see http://rda.gov.ge/rules/).
  • The interest will be subsidized by the Agency for a period of 6 months from the disbursement of the loan along with the borrower's scheduled payments. The subsidy will cover full annual interest for secured loans and up to annual 17% for unsecured loans.
  • For more details, please visit the Rural Development Agency website: http://rda.gov.ge/projects/read/agro_credit/90:child
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