On July 8, the Rural Development Agency received applications for participation in the Program for Promotion of Entrepreneurial Activity in Mountainous Regions. As a result of the review, the applicants whose applications did not meet the program criteria were notified of the rejection.

In view of the above, the Rural Development Agency will re-announce the acceptance of applications for the Program for Promotion of Entrepreneurial Activity in Mountainous Regions – on July 29 of the current year at 12:00 PM, until the budget (2.7 million GEL) is exhausted.

Within the framework of the Program for Promotion of Entrepreneurial Activity in Mountainous Regions, co-financing per potential beneficiary will be no less than 30,000 GEL and no more than 100,000 GEL, but not exceeding 50% of the total value of the submitted project. An additional 10% benefit is defined for young entrepreneurs and agricultural cooperatives. The total value of the project, at the time of application submission, must not exceed 500,000 GEL.

It is noteworthy that the program will fund both agricultural (excluding primary production) and non-agricultural activities, such as storage and processing enterprises, wineries, small family hotels, food facilities, as well as any other business idea, except those restricted by the program.

The aim of the program is to support the development of the private sector in mountainous regions and create new jobs through co-financing, as well as to stimulate young entrepreneurs and increase economic activity.

For detailed information about the program, see the link.