Eight projects with a total investment value of more than GEL 4 million have been approved under Georgia’s updated Agro Co-Financing Program since its launch on July 1, the Rural Development Agency told BM.GE.
The agency said applications are being submitted both electronically and in paper form. Applicants must go through several stages, including document review and an approval process, while other applications received during the reporting period are still under review. The agency did not disclose the total number of applications submitted or provide a breakdown by applicant type.
The updated program aims to support high-investment agricultural projects and the expansion of production. It offers interest-rate co-financing at the National Bank’s refinancing rate, currently 8.25%, for up to 12 months, while the loan rate may not exceed 18% annually. Loans range from GEL 10,000 to GEL 100,000, and up to GEL 300,000 for grain production.
The program covers operating costs for one-year crops, including vegetables, grains and melons, as well as seeds, fertilizers, crop protection products, labor, machinery rental, fuel and irrigation equipment. Individuals, individual entrepreneurs and legal entities can participate, provided they are registered in the relevant farmers’ and rural enterprises registry.
