"Today, at this very Executive Government Meeting we will be discussing and approving a very important initiative relating to agricultural land plots. In line with our decision, the referred program will be expanded even further and namely, in addition to the leased arable category of land, the right of redemption will be extended to the grazing category as well. Also, the upper threshold on land plots is getting abolished: if until now it was allowed to buy only leased agricultural land plots up to 10 hectares, now this restriction will be removed altogether. It is also important that lessees will be able to redeem the arable and grazing land from the state leased as of March 31, 2021. Until now, this right applied only to land plots leased before January 23, 2020" stated Irakli Garibashvili, Prime Minister of Georgia at the Executive Government Meeting held today in the format of a video conference.
According to the Head of Government of Georgia, this is a very significant initiative, as it puts all lessees on equal terms.
"At the same time, I would like to emphasize that with this initiative the citizens of Georgia will be able to register about 11 thousand hectares of arable land in their title ownership, the total value of which is about 100M GEL. This change, aimed at increasing program efficiency and interest in it, is an additional opportunity for people employed in the sector of agriculture to use more land as an asset, for example, in government programs, to attract bank financing. In general, both the entrepreneur and the state will find a greater benefit from owning land and engaging in economic activities" concluded the Prime Minister of Georgia.
Press Service of the Government Administration