2020-11-12
Adjustments made to the program branded as Produce in Georgia:
Co-financing facility of the state program will be extended for supporting the industry of small and medium hotels and guesthouses so that more entrepreneurs benefit from engaging in it. Also, in line with the adjustments to the program, subsidies for mixed purpose loans will become eligible, thus significantly increasing the number of beneficiaries funded under the initiative.
Hotel support program has so far funded 1 873 projects (1 339 unique loans). Volume of funds drawn down under the initiative has reached 24 759 697 GEL.
It is equally important that adjustments are made to the state program on credit guarantees as the coverage of businesses engaged in various segments of the economy is widening. It is worth noting that by taking into account the impact caused by the pandemic on the economy, targeted segments will be extended to cover business and trade, meetings and conferences, as well as ice cube production.
Also, credit guarantee may be granted for loans issued within such economic activities as cultivation of grape wine, tropical and subtropical fruits, citrus, oil-generating, seed and berry crops, cultivation of horticulture for juice production, spices, aromatic and pharmaceutical herbs, along with other perennial crops.
Within the Program branded as Produce in Georgia, existing industrial directions will be extended to cover the research and development, physical, chemical and other similar tests, etc. for increasing the scope of entrepreneurs and their access to finance.