Subcomponent for Financing Primary Blueberry Production

1. Within the framework of this subcomponent, loans are issued to primary blueberry producers whose orchards are located in the regions of Imereti, Guria, and Samegrelo, to finance one operational year’s expenses for the following purposes:

a) Financing current expenses for pesticides, organic and mineral fertilizers, and biological means of plant protection;

b) Hiring labor resources and agricultural machinery for agricultural work;

c) Financing current expenses for fuel and lubricants used in agricultural machinery;

d) Financing the cost of soil and water laboratory analysis.

2. The following individuals are eligible to benefit from the subcomponent:

a) A natural person who is a citizen of Georgia;

b) An individual entrepreneur registered in accordance with the legislation of Georgia;

c) A legal entity registered in accordance with the legislation of Georgia (excluding state/municipal enterprises).

3. Within the framework of the subcomponent, the amount of the loan issued to one beneficiary per season shall be no less than 10,000 GEL and no more than 100,000 GEL.

4. The annual interest rate set by the financial institution for the loan issued to the beneficiary within the framework of this subcomponent must not exceed 18%.

5. The loan term and repayment schedule shall be determined based on an agreement between the beneficiary and the lending financial institution.

6. The Agency will co-finance the interest on the loan issued within the framework of the subcomponent for no more than 12 months at an annual rate of 9%, for a period not exceeding 14 months from the date of loan issuance, after the beneficiary confirms the targeted use of the loan in accordance with paragraph 9 of this article.

7. The maximum cost of blueberry cultivation and maintenance per 1 ha for one operational year is set at 15,000 GEL.

8. The land plot where the loan funds are planned to be invested must be in the ownership, co-ownership, or use of the borrower (in the case of an agricultural cooperative, investment of the loan amount is allowed on land plots owned by members/shareholders of the cooperative), in accordance with Georgian legislation (in case of co-ownership, there must be the consent of the co-owners for the use of the property for the duration of the loan co-financing period, and in case of use, its validity period must not be less than the co-financing period), and ownership, co-ownership, or use must be registered in accordance with Georgian legislation no later than March 30, 2025.

9. For a loan issued under this subcomponent (excluding refinanced loans), the beneficiary is obliged to submit an audit opinion to the servicing financial institution within 1 year from the loan issuance (from a person registered in the registry of the State Sub-agency “Service for Accounting, Reporting and Auditing Supervision” within the system of the Ministry of Finance of Georgia, who has category I, II, III, or IV; or from the Legal Entity of Public Law “Levan Samkharauli National Forensics Bureau”), on the targeted use of the loan (any purchase made with the loan amount (excluding services) must be made from a registered entrepreneurial natural/legal person under Georgian legislation or through import), which must not exceed the maximum cost defined in paragraph 7 for the cultivation and maintenance of blueberry per 1 ha.

10. Loan conditions not provided for in this subcomponent are regulated by the general conditions of the working capital component.

11. Within the framework of the subcomponent, issuing loans shall be permitted from January 1 to October 31 of each year, based on the relevant ordinance of the Government of Georgia (if such exists).