Government of Georgia expands the State Program coverage to let greater access to agricultural land resources with an aim of finding solutions to challenges facing the country and to improve the economic situation nation-wide.
The extended program envisages the privatization of agricultural arable land leased by March 31, 2021, which will now cover grazing land plots (currently under cultivation) as well. It in turn ensures the active engagement of leased property assets by lessees in economic turnover of the country.
With the referred change there will be an opportunity to transfer up to additional 11 hectares of arable land into private ownership, the total privatization value of which is over 100M GEL. It should be noted that the initiative will affect about 2206 private lessees.
This initiative will help create an environment conducive to attracting the additional financial assets essential for agricultural development.