A new ₾25 million ($9.28mln) programme aimed at promoting the production of one-year crops throughout Georgia, a program has been launched with state co-financing under the initiative of the Ministry of Environmental Protection and Agriculture in Georgia, the body said on Friday.
The programme - titled Georgian Vegetables from Greenhouses - seeks to encourage the starting of greenhouses by introducing "modern, climate-smart technologies". It aims to increase the volume of greenhouse products, particularly during the off-season, by providing access to necessary funds for the establishment of new greenhouse farms, according to the Ministry.
Potential beneficiaries of the programme can access combined financing in the form of a grant and full financing of the interest rate of a credit issued by a commercial bank. The credit amount must range from ₾50,000 ($18,554) to ₾1 million ($371,089), and grant funding is capped at 30 percent of the loan amount.
The total financing is limited to 50 percent of the loan amount, and the grant funding is issued after the beneficiary fulfils their obligations.
Local beneficiaries taking advantage of the support mechanisms within the programme will be able to foster import substitution of horticultural and vegetable crops and increase export potential, especially during the off-season, the Ministry said.
Source: agenda.ge