News
The subcomponent “Financing for Annual Crops” of the “Preferential Agrocredit” project remains available this year as well.
As part of the “Preferential Agrocredit” project, the Rural Development Agency will co-finance the interest on loans granted for the cultivation and care of annual crops. The decision was approved at today’s Government session.
Under the subcomponent, loans will be provided to cover one operational year of expenses for annual crops (vegetables, cereals, and garden crops) and alfalfa. Specifically, loans may cover expenses at all stages of cultivation and care of annual crops, including the purchase of seeds and planting material, fertilizers, and biological plant protection products. The costs of hiring labor and agricultural machinery, as well as fuel used, are also eligible.
Within the subcomponent, the Rural Development Agency (RDA) will co-finance the interest on the loan for a period of up to 12 months at an annual rate of 9%. The maximum annual interest rate of the loan is set at 18%. The loan amount per beneficiary ranges from GEL 10,000 to GEL 100,000 for general annual crops, and from GEL 10,000 to GEL 300,000 for cereals.
The “Preferential Agrocredit” project is available to individuals, individually registered entrepreneurs, and legal entities in accordance with Georgian legislation (excluding state or municipal enterprises).