01.Sep .2021 15:00

Gov’t To Subsidize Companies Focused On Exports

Gov’t To Subsidize Companies Focused On Exports
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Today, the Agency of the Ministry of Economy Enterprise Georgia presented a new export subsidy project. Under it, companies, which are focused on exports will be able to obtain co-financing from the state on loans of up to 10 million GEL taken in banks.

The program aims to support Georgia's export opportunities. So far, it is unknown how many million GEL the project budget will be and consequently how many businesses will be able to use it.

The goal of the programme is to increase the country's export potential and support entrepreneurship in Georgia by expanding and re-equipping new or existing enterprises, supporting the entrepreneurial entity, and replacing imported goods with locally produced ones.

The terms of the programme are:
Loan co-financing: refinancing rate minus 5%
Loan guarantee: 60% of the loan amount
Grant: 15% of the loan (not more than 500,000 GEL)
Duration: 10 years
Loan amount: 50,000 GEL -10 million GEL

The program also supports development of Agro and Eco trouism. This is an intensive support programme for the development of agro and eco tourism facilities in the regions.

The programme will finance local and international info-tours, staff training and will provide funding for the participation in tourism exhibitions.

The terms of the programme are:
• Loan co-financing: refinancing rate minus 5%
• Loan guarantee: 60% of the loan amount
• Grant: 15% of the loan (not more than 500,000 GEL)
• Loan amount: 50,000 GEL -10 million GEL