The Rural Development Agency co-finances the 12-month interest rate of the loan under the Preferential Agro Credit 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.

To support the cultivation of annual crops, 1,374 loans worth GEL 26,664,327 have been disbursed under the state project from March 22 to date.

The purpose of the sub-component loan is to cover the cost of sowing and planting crops for annual crops, pesticides, organic and mineral fertilizers, plant biologics, labor costs for hiring crops and agricultural machinery, and the cost of equipment used.

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

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

The purpose of the loans in the preferential agro-credit project is to reduce the cost of working capital for growing annual crops and to enable farmers to bring more quality agricultural products.