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Produce in Georgia program sees changes

Produce in Georgia program sees changes
Produce in Georgia program sees changes

The government has made changes in the loan and leasing subsidies program to mitigate the pandemic-caused problems.

It has made significant changes in the program.

As the Produce in Georgia program reports, the loan limit dropped to 50,000 GEL, while the maximum volume hit ten mln GEL, giving the business sector more chances to enjoy the co-sponsorship.

The areas of the work increased: production of plastic, construction materials, mineral water, and laboratories.

The number of co-sponsorship months increased from 24 to 36 months. The co-sponsorship interest rate also changed.

The program budget increased from 20 to 300 mln GEL. A credit guarantee will hit 90% instead of 70%. An entrepreneur will be able to take at least 50,000 and a maximum 5,000,000 GEL loan.

The budget of the program supporting micro and small entrepreneurship increased from 10 to 40 million GEL.

The upper limit of the program focused on regional development became 30,000 GEL. Female entrepreneurs, persons with disabilities, and other vulnerable social groups are the priority.

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