The Rural Development Agency will continue subsidizing interest rates on bank loans issued for the production of annual crops under the State Agro Co-Financing Program. Loan issuance through participating commercial banks is expected to begin next week.
The government will cover the loan interest rate equal to the National Bank of Georgia’s refinancing rate, currently 8.25% annually, for up to 12 months. The maximum annual interest rate under the program is set at 18%.
Loans will range from GEL 10,000 to GEL 100,000 per beneficiary, while financing for grain production can reach up to GEL 300,000. The funds are intended to cover one-year operational costs, including seeds, fertilizers, plant protection products, labor, machinery rental, fuel, and irrigation materials.
The program is available to individuals, registered individual entrepreneurs, and legal entities involved in agriculture. Applicants must be registered in the farmers and rural enterprises registry to participate. The initiative was previously part of the Preferential Agrocredit Project and was integrated into the Agro Co-Financing Program in July.
