Friday, August 30, 2013

50 million GEL to be offered to winemakers in the framework of agricultural credits project

30.08.2013 (Hvino News) A total of 50 million GEL will be offered in the framework of the framework of so-called "Fifth Component". Upon the initiative of Minister of Agriculture, the Fifth Component was added to preferential agricultural credits project. The project allows 15-month loans to be  offered to wine companies and the subsidy budget will reach 25 million GEL. Agricultural Projects Management Agency says that the credit portfolio can be increased if necessary.

Loans will be issued by  Bank of Georgia, TBC Bank, Cartu, VTB Bank, BasisBank and ProCredit Bank. The application was sent to all banks, but only six expressed willingness to participate. These banks have  already had the experience of working with wine companies.

The wine companies will be able to take an under 100.000 GEL loan at 15%, a 100.000 - 1.000.000 GEL loan  at 14% , over one million loan – at 13%.

© Hvino News

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