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Distribution of cheap and long-term loans starts

Minister of Agriculture Davit Kirvalidze said the distribution of cheap and long-term loans will start soon. Interpressnews reports that Minister Kirvalidze said at the Tbilisi Marriott Hotel on March 27, presenting the project of Agrocredits. The minister said the project was financed by the Fund for Agricultural Development and will be carried out by the Agricultural Projects Management Agency.

Minister Kirvalidze said the ruling Georgian Dream coalition is fulfilling the promises by issuing cheap and long-term credits which he said would be a stimulus for the Agricultural development and producing industry. “I want to thank micro finance institutions, which have been intensively working for the last 3-4 months to carry out this product,” the minister said, adding that this is the path that the European countries have passed and which will make Georgia more successful.

Deputy Minister Shalva Pipia said 11 banks and 2 micro financial organizations have been engaged in the project. Pipia said the project consists of three different components– both for small, medium and large-size farmers and agricultural enterprises.