155 new enterprises open as part of Cheap Agro Credit program

155 new enterprises open as part of Cheap Agro Credit program

The Agency for Rural and Agricultural Development continues the projects supporting the agricultural sector, including the Cheap Agro Credit program that made funds available for entrepreneurs and farmers.

As reported, the program supported the opening of hundreds of new enterprises.

The projects and programs implemented in 2013-2019 aim to promote the processing industries, storage of agricultural products, and its realization.

As reported by the agency, financial institutions involved in the project issue credits, and 12 banks and three leasing companies engage in the program.

Based on the data of November 30, 2019, financial institutions issued 39,271 loans of 2,207,907,390 GEL value in total, while the agency co-sponsorship reached 305,780,198 GEL.

A total of 5.118 loans were issued in 2019.

In total, 212 new enterprises opened. One hundred fifty-five of them began functioning as part of Cheap Agro Credit, nine – as part of Produce in Georgia, and 48 – within the framework of the co-sponsorship program for the storing and processing enterprises.

Nine hundred forty enterprises expanded as part of the government program.

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