Four new state programmes added to export promotion agency Enterprise Georgia

  • The new programmes are: Facilitation of Home Purchasing for Families, Business Universal, Business Export and Development of Agro and Eco Tourism. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 1 Sep 2021 - 12:02, Tbilisi,Georgia

Four new programmes have been added to Georgia's export promotion agency Enterprise Georgia today.

The programmes will aim to help families with newborns purchase new apartments, increase the financial availability of business loans for the maximum number of business entities, increase the country's export potential and develop agro- and eco-tourism facilities in the Georgian regions.

Facilitation of home purchasing for families

This new programme will provide a subsidy for interest accrued on mortgage loans taken out by families with newborn children, single parents or widows to buy a new apartment. 

The programme will apply to borrowers who:

  • Have a child under the age of one year born after September 1, 2021
  • Have three or more minor children at the time of borrowing
  • Have a minor adopted after September 1, 2021

Under the programme, mortgage loans will be issued only in the national currency by a commercial bank to buy a primary and secondary apartment / house or to build a private house.

The maximum loan amount should be 200,000 GEL, however the value of the apartment / house to be built may exceed this amount of money.

Duration of the subsidy is 60 months.

This is a one-time subsidy however large families, those who have four or more children will be able to use the programme again in the future and get a new loan of up to 200,000 GEL", says the Enterprise Georgia.

Business Universal

The goal of the programme is to increase the financial availability of business loans for the maximum number of business entities.

The terms of the programme are:

  • Loan co-financing: refinancing rate minus 5%
  • Loan guarantee: 60% of the loan amount
  • Duration: 10 years
  • Number of allowed economic activities - up to 360
  • Loan amount: 50,000 GEL -10 million GEL

Business Export 

The goal of the programme is to increase the country's export potential and support entrepreneurship in Georgia by expanding and re-equipping new or existing enterprises, supporting the entrepreneurial entity, and replacing imported goods with locally produced ones.

The terms of the programme are:

  • Loan co-financing: refinancing rate minus 5%
  • Loan guarantee: 60% of the loan amount
  • Grant: 15% of the loan (not more than 500,000 GEL)
  • Duration: 10 years
  • Loan amount: 50,000 GEL -10 million GEL

Development of Agro and Eco Tourism

This is an intensive support programme for the development of agro and eco tourism facilities in the regions. 

The programme will finance local and international info-tours, staff training and will provide funding for the participation in tourism exhibitions.

The terms of the programme are:

  • Loan co-financing: refinancing rate minus 5%
  • Loan guarantee: 60% of the loan amount
  • Grant: 15% of the loan (not more than 500,000 GEL)
  • Loan amount: 50,000 GEL -10 million GEL

A farm is defined as agro-tourist facilities, which is designed to receive tourists and offers the guest at least one of the following services using its own product: food service, accommodation, and educational, cognitive, entertaining, recreational activities.

And eco-tourist facilities were defined as a tourist facility that offers various services to the guest by minimising the impact on the environment and preserving the living culture, such as: placement of residential architecture typical for the region (up to 10 rooms); family-type ethno-gastronomic food facility with tasting and auxiliary infrastructure; and traditional handicraft educational workshop.

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