"Georgian Vegetables from Greenhouses" - A New Program Launches with State Co-Financing
Initiated by the Ministry of Environmental Protection and Agriculture, the Rural Development Agency has launched a new program for individuals interested in creating greenhouse farms. The program aims to promote the production of annual agricultural crops across the country through the implementation of modern climate-smart technologies.
The goal of the program is to promote vegetable production nationwide through the implementation of modern climate-smart technologies.
The objective of the program is to increase the availability of financing needed to set up new greenhouse farms and to boost the volume of greenhouse-produced products, including during the off-season.
Potential beneficiaries can receive combined financing, including both grants and full financing of the interest rate for up to 24 months on loans issued by commercial banks under the program. The loan amount must be no less than 50,000 GEL and no more than 1,000,000 GEL, while grant funding is determined at no more than 30% of the loan amount and is issued after the beneficiary fully fulfills their obligations. Additionally, total funding is capped at no more than 50% of the loan amount.
The program will promote job creation and the encouragement of greenhouse farming through state-determined co-financing. By utilizing the support mechanisms defined within the program, local beneficiaries will be able to establish greenhouse farms, which will contribute to the replacement of imported vegetables and melons and increase export potential, including during the off-season.
The budget for the new state program "Georgian Vegetables from Greenhouses" is 25 million GEL.