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Bank Policy on Issuing Loans to Small Farmers

Published: August 19, 2013 | 8:32 am
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Are there any restrictions on issuing long term loans to small farmers? As reported earlier, TV3 was contacted by a Tetritskaro-based farmer who had her loan applications rejected by the banks. According to a spokesman for the Agricultural Project Management Agency, it does not carry out any financial checks on the farmers, and only commits itself to co-financing the loans once these have been issued by the banks.
The farmer in question claimed that in spite of having no previous problems with the banks, her application for a 30 000 GEL loan for expanding her farm was rejected by all of them, including the Bank of Georgia. The BOG states that it leads the field in the amount of loans issued as part of the second component of the Cheap Agricultural Loans program. A total of 14 million GEL has been given out in loans so far, about half of it to small farmers. The second component of the program concerns loans of up to 100 000 GEL.

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