Agro-credits become popular
By Messenger Staff
Tuesday, August 20According to the head of the Agricultural Development Fund, Giorgi Managadze, the program of agro credits is being successfully implemented. There is serious demand for cheap credits. More than 400 loans have been issued in the cattle breeding sector. Credits are issued for the hot-houses, poultry, wineries, and storage facilities.
The interest rate for the cheap credits is less than 8%. The loans are given out from 5,000 up to 100,000 GEL for a five-year term. According to the next project, up to 1 million GEL in credits will be issued for 3% interest rate for a 7 year term. 160 projects have been already financed with these credits.11 Georgian banks and 2 financial organizations are involved in this project.