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The Success of the Cheap Agricultural Loans Programme

Published: September 24, 2013 | 1:10 pm
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30 million’s worth of subsidies, and over 200 satisfied manufacturers – the Agricultural Projects Administration Agency has once again spoken about the success of the Cheap Agricultural Loans programme. According to the agency spokesman Irakli Moistsrapishvili, all three phases of the programme are proceeding without any faults. The third phase will see both mid-scale and large farmers being issued with loans. The State’s involvement is at its highest in this particular component, with 12% of the interest rates subsidised by the government, Mr. Moistsrapishvili has explained.
The programme and the establishment of new enterprises with its help have also received the experts’ approval. Thus, Irakli Lekvinadze has told TV3 that one of the programme’s main advantages lies in the fact that large businesses do not have to invest their own funds. According to him, the Agriculture Ministry’s initiative has been particularly successful for those companies which satisfied the banks’ criteria prior to the programme as well. The Agricultural Projects Administration Agency adds that more new enterprises will be financed through the Cheap Agricultural Loans programme in the future.

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