TBC Bank and the Ministry of Agriculture of Georgia have offered a new agro investment project which is supposed to boost the agricultural field. It will be launched within the framework of the Preferential Credit project.
TBC Bank agro investment loan
By Tatia Megeneishvili
Wednesday, September 7
A special conference wherein the details of the project were revealed was held on September 5 at the head office of TBC Bank.
The General Director of TBC Bank, Vakhtang Butskhrikidze, stated that the project is unique, since farmers will have the opportunity to use a long term loan.
“The minimal amount of a loan is 20,000 GEL while the maximum of loan is 600, 000 USD. The Ministry of Agriculture will pay percent of the loans for 5 years. This fact makes the project absolutely unique,” state Butskhrikidze.
Minister of Agriculture of Georgia Otar Danelia said that the grace period in this particular project is very important.
"This is a very good initiative and it is important that the banking sector is becoming much more active in terms of lending to agriculture," stated Danelia.
The agro-investment loan is intended for those individuals and entities who own agricultural land of at least one hectare and are interested in perennial plantations.
The loan will fully fund garden cultivation and the subsequent maintenance of the process to the harvest period.
At the same time, farmers can benefit from the Ministry of Agriculture project Plant for The Future, which will grant the seedlings and irrigation system for farmers.