"The subcomponent for the purpose of growing annual crops was added to the preferential agro-credit project just a few days ago. It is noteworthy that the interest of farmers in the program is particularly high; From March 22 up to date, loans in the amount of GEL 1,076,500 have been issued under the state project to support the cultivation of annual crops. The purpose of the loans granted in this direction of the preferential agro-credit project is to reduce the cost of working capital for growing annual crops and give farmers the opportunity to grow high-quality agricultural products, "- said the director of the Rural Development Agency, Ilia Tamarashvili.

The subcomponent for the purpose of growing annual crops within the preferential agro-credit was launched last week to increase the country's self-sufficiency.

The Rural Development Agency co-finances the 12-month interest rate of the loan under the Preferential Agrocredit project sub-component, at the rate of 9% per annum. The maximum annual interest rate of the loan is set at 18%. Under the project, the loan amount per beneficiary is set at GEL 5,000 to GEL 100,000.

The purpose of the loan granted within the sub-component is to cover the cost of pesticides, organic and mineral fertilizers of the seed and planting material and the biological crop production products, labor costs for hiring labor resources and agricultural machinery for the annual crops, and the cost of the fuel and lubricant of the equipment used.

The project can be used by individuals being citizens of Georgia, individual entrepreneurs registered in accordance with the legislation of Georgia and legal entities registered in accordance with the laws of Georgia (except for state / municipal enterprises).

Under the subcomponent, financial institutions will issue loans through October 31, 2022.