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Wineries to Benefit from Cheap Agricultural Loans

Published: August 16, 2013 | 7:46 am
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What is the new component of the Cheap Agricultural Loans program about, and how will the wineries benefit from it? A fifth component has recently been added to the program, which will enable wine companies to take out 15 month loans at rates between 12% and 15%, with 9% being subsidised by the State. The head of the program Irakli Moistsrapishvili has told TV3 that both wine factories and any grape processing enterprises will be able to benefit from the cheap loans. Those who wish to do so will have to register at their local harvesting headquarters, or at the National Wine Agency. Loans of up to 10 million GEL can be taken out, while a total of 50 million GEL has been set aside for this section of the program. According to Mr. Moistsrapishvili, around 80 enterprises have already registered their interest. Once again, the banks will play an active part in issuing the loans, and will be assessing the creditworthiness of the companies.
A total of 4800 individuals and companies have so far benefitted from the Cheap Agricultural Loans program. Loans totalling 73 million GEL have been issued.

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