Government to Secure Part of Agriculture Loans

The Government of Georgia has added changes to the Enterprise Georgia program in order to assist the private sector damaged amid the pandemic.

According to the Economy Ministry’s information, changes will apply to the farmers that grow multiyear plants. They will have the opportunity to join the loan security scheme. As noted by Economy Minister Natia Turnava, farmers’ involvement in the credit-guarantee scheme is of crucial importance.

Twelve Georgia-based commercial banks have engaged in the credit-guarantee scheme and the scheme runs under the aegis of Enterprise Georgia agency. “The scheme secures around 70% of the loan collaterals for small and medium business companies and this factor will essentially simplify access to financial resources for small and medium business companies”, the Enterprise Georgia’s statement reads.