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Levan Davitashvili: " We have kept a promise to increase an access to cheap financial resources in the country"
The Minister of Environmental Protection and Agriculture, Levan Davitashvili outlined the importance of an access to cheap financial resources while highlighting issues related to 2020 state budget on Maestro TV.
“Seven years ago, on October 1, when Georgian Dream Coalition came in the executive power, the agricultural sector was declared as a top priority issue in the country. The focus was set on a number of important aspects. The government stated, that cheap financial resources would be available for agricultural development. That was the most important statement.
Since 2012, agricultural activities have changed dramatically. Moreover, preferential agro-credit program was launched, which provided an access to cheap financial resources for all entrepreneurs, farmers and peasants.
Preferential agro-credit implies 11% interest rate charged for agricultural loans, which will be paid by the state for 5 years on loans issued by private, commercial banks for our citizens for the development of the agrarian sector.
The program has been operating successfully since 2013, which means that we kept our promise to incease an access to cheap financial resources in the country"
I would also like to mention, that by 2020 the budget has increased up to 74 million GEL. The current portfolio is more than half a billion GEL, thereby, the amount allocated for financing the sector exceeds 2 billion GEL "the Minister noted.