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How will GEL 700 Million be Distributed?

Published: September 5, 2013 | 12:43 pm
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How will the sum of GEL 700 million that was announced by the Prime Minister for the development of agriculture be distributed? This sum, according to Bidzina Ivanishvili, is to be invested in the agriculture sector before the end of the year. Over 100 new enterprises are to be established.
Irakli Moistsrapishvili, the manager of the Cheap Agricultural Loans program, has stated that over GEL 300 million have already been spent on improving the sector, and more funds will be allocated in this regard in the future, if needed. According to him, 190 enterprises have already been financed through the Cheap Agricultural Loans program, through loans totalling GEL 90 million.
A statement from the Ministry of Agriculture explains that the sum of GEL 700 million includes both the funds allocated from the State Budget, and those brought in by donor organisations.

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