Economy
Posted: 1 week ago

Liberty Joins the Agricultural Land Owners Stimulation Program

20.05.20, Tbilisi - As of today, more than 200,000 farmers will receive a Liberty "Agro Card" within the framework of the state program to stimulate agricultural land owners and will benefit from the new program throughout the country.

From May 20, Liberty Bank's active account beneficiaries will gradually start accruing points for the Agricultural Land Owners Stimulation Program and the process of procurement and distributing Agro Cards by Liberty.

All individuals and legal entities that own or co-own a 0.25-hectare to 10-hectare plot of agricultural land registered in the public registry will receive a subsidy under the $ 37 million program. According to the program, farmers will be entitled to the corresponding points of the subsidy amount (1 point = 1 GEL) on Liberty Bank's "agro cards" at 0.25 hectares - 50 points, at 1 hectare - 200 points, at 10 hectares - 2,000 points.

In order to receive a card, the farmer must apply to Liberty Bank. Information about the amount of the subsidy and the date of receipt of the card can be found on the website myliberty.ge. The corresponding points of the accrued subsidy can be spent by holding the "Agro Card" post-terminal, in the specialized shops of licensed agricultural goods and in the Agricultural Logistics and Services Company Ltd. Holders of unregistered land until December 31, 2020, have the opportunity to register the land in advance, after which they will be able to participate in the program.

The program will start on May 20, 2020. Individuals who own land will be able to accrue points on ‘agro cards’ in stages from June 1 and will be able to use the accrued points until May 20, 2021.

"We are pleased to be able to offer our customers a new product today - 'agro cards', which will be awarded a subsidy under the state program" Stimulating Agricultural Land Owners ". Liberty has the widest network and is closest to farmers. This program helps farmers to overcome the crisis caused by the new coronavirus pandemic in the country. For their safe service, we have created a special platform myliberty.ge, where it will be possible to get the information provided about this program. - said Irakli Abashidze, Deputy Director of Small and Medium Business at Liberty Bank.