Georgian Farmers to Benefit from Enhanced Agricultural Insurance Program
The Rural Development Agency has announced changes to the country's agricultural insurance program. According to Natalia Kharatishvili, the agency's deputy director, farmers will now receive 70% co-financing instead of the previous 50%.
The 70% co-financing applies to insurance policies for 10 hectares of all crops for one farmer, and 50 hectares for grain crops. The agency's consulting service center is also available in 54 municipalities to provide information about projects and details of agro-insurance. The enhanced program includes the ability for farmers to insure next year's harvest in advance for perennial crops, eliminating the need to wait for the arrival of each spring.
The changes to the agricultural insurance program offer significant benefits to farmers, allowing them to better protect their crops against hail, floods, storms, and autumn frosts. Farmers who apply to insurance companies in the spring will also benefit from the enhanced co-financing, with growers now receiving 70% co-financing instead of 50% for all crops. Moreover, cooperatives will not have any limitation on hectares, and the cost of the premium, up to 50,000 GEL, will be paid by the state.
Kharatishvili explains that the changes will result in lower premiums for farmers. For example, for the insurance of one hectare of white grape vines, farmers will pay 84 GEL less than last year, while the insured crop value will remain the same. The enhanced program will provide much-needed support to farmers, who face risks associated with changing weather patterns and market fluctuations.
The Rural Development Agency's commitment to providing consultation services and live sessions to explain procedural details in detail demonstrates the agency's dedication to ensuring that farmers have access to the information they need to make informed decisions. With the enhanced agricultural insurance program, farmers in Georgia can be confident in their ability to protect their crops and secure their livelihoods.