Basisbank, in cooperation with Voyage Georgia LLC, invested GEL 100,000 provide working capital for a 26-hectare hazelnut orchard in Kvareli, Kakheti, of which GEL 49,000 was granted within the framework of the preferential agricredit project, the hazelnut production promotion program.
The company harvests up to 70 tons per season and plans to gradually increase production in the following years. Products are sold both on Georgian and foreign markets. Local people are employed in the gardens.
The partnership between Basisbank and Voyage Georgia LLC has been going on for years; the entrepreneur benefits from various components of the bank's agriculture loans product every year. Within the framework of the cooperation, the company planted a vineyard of Saperavi variety on 8 hectares in 2019. The project was financed by the bank with a preferential agricredit in the amount of GEL 292,000.
"This year the state has developed a new program for fruit farmers, providing farmers with working capital as part of the preferential agricredit. The loan is co-funded by the state at 8% for a period of 12 months. With this credit, the farmer can finance the costs of pesticides, organic and mineral fertilizers, biological means of plant protection, labor resources, as well as rental of agricultural machinery and costs of fuel/lubricating materials. We are always ready to develop cooperation with agriculture companies, thereby promoting the development of farms and creating new opportunities for business success. We are always ready to provide financial support to the agricultural sector in all areas," said Shmagi Bregadze, head of Basisbank's Agribusiness Department.
