Definitions of Terms

Potential Beneficiary - An entrepreneur (individual or legal entity) registered under the Georgian Law on Entrepreneurs, in which the state, the Autonomous Republic of Adjara, or the municipality does not own a share/interest/stock, and with whom a co-financing agreement may be signed under the program;

Program Beneficiary - An entrepreneur (individual or legal entity) registered under the Georgian Law on Entrepreneurs, in which the state, the Autonomous Republic of Adjara, or the municipality does not own a share/interest/stock, and with whom a co-financing agreement has been signed under the program;

Commercial Bank - A licensed commercial bank registered in Georgia and participating in the project’s implementation;

Agreement - The agreement signed between the agency and the commercial bank, which defines the obligations of the parties within the program;

Co-financing Agreement - The agreement signed between the agency, the commercial bank, and the beneficiary, which defines the obligations of the parties within the program;

Project - The business activity specified in the loan approval application submitted by the potential beneficiary through the agency’s partner commercial bank, for which funds will be provided in accordance with the program’s conditions;

Greenhouse Farm - A structural building, excluding one made with a wooden structure, which is covered with transparent or semi-transparent material and is intended for the production of vegetable crops at various times of the year, along with its associated infrastructure;

Funding - The financial resources provided by the agency to the project’s beneficiary under the program;

Goods - The fixed assets required for the establishment of new greenhouse farms;

Service - The services to be provided for the establishment of new greenhouse farms;

Working Capital - The planting/seed materials and pesticides, agrochemicals, and other auxiliary means necessary for the maintenance and cultivation of the greenhouse farm.