Agriculture Minister: farmers to get low-interest loans for annual crop production
The Government will subsidise nine percent of the loans, with farmers to be able to finance the cash resources needed for their working capital - such as seed materials, fuel and equipment rental. Photo: mepa.gov.ge
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Georgian farmers will be able to get low-interest loans for production of annual crops, following latest changes to the preferential agro-credit state programme, Georgian Agriculture Minister Otar Shamugia announced on Monday.
The Government will subsidise nine percent of the loans, with farmers to be able to finance the cash resources needed for their working capital - such as seed materials, fuel and equipment rental.
Shamugia said the interest rate for the loans would not exceed 18 percent, based on the Government’s decision.
We will subsidise at least half of the interest rate under this project. We think this will significantly contribute to the cheap monetary resources for our farmers for the production of annual crops in the country,” the Minister said.
Shamugia also announced the state would co-finance 80 percent of costs of establishing vegetable storage farms for agricultural cooperatives.
Farmers can unite to form a cooperative, and if they meet the conditions set out in a specific government decree, they will receive co-financing from the state for vegetable storage farms in the form of a grant of 80 percent of the total cost,” Shamugia added.
The Minister said in recent years a total of 4.5 billion GEL ($1.3bln/€1.2bln) had been invested in the development of agricultural production in Georgia.
Reforms in the forestry sector, air and water resources, waste management and trade relations were the topics covered at a meeting between Otar Shamugia, the Georgian Agriculture Minister and Carl Hartzell, the European Union Ambassador to Georgia, on Wednesday.
There will be “no delays” in terms of product supplies for Georgian consumers, Georgian Agriculture Minister Otar Shamugia said on Thursday.
Shamugia made the comment responding to speculation over a possible lack of availability of products in connection to the conflict in Ukraine, while also urging the public to refrain from buying in bulk to avoid an artificial increase in prices.
Georgia is dependent on import of dairy products “to some extent”, and enterprises in the country have no resources to export such goods on various markets, Georgian Agriculture Minister Otar Shamugia said on Wednesday.
Problems related to the supply of wheat and flour in Georgia are neither observed nor expected, Economy Minister Levan Davitashvili said on Wednesday, adding it was foreseeable the export tax would be removed and the country would be able to buy wheat “on better terms and cheaper.”
Georgia’s wine export growth rate reached more than 40 percent in January-February 2022, the Georgian Agriculture Minister Otar Shamugia said on Monday, adding the figure reflected the “purposeful policy” of the Georgian Government.
Environmental reforms in Georgia, projects implemented by the United Nations Development Programme (UNDP) in the country and future cooperation avenues were discussed by Otar Shamugia, the Georgian Agriculture Minister, and Nick Beresford, the UNDP Resident Representative in Georgia, on Tuesday.
Georgia has the resources to increase its wheat self-sufficiency to 50 percent, Georgian Agriculture Minister Otar Shamugia said on Wednesday, noting the state was ready to develop “stimulating projects” aimed at increasing wheat production in the country.
Representatives of the European Union and the United Nations Food and Agriculture Organisation visited the Dmanisi Cattle Breeding Station in southeastern Georgia to observe the facility that received a grant of 462,000 GEL ($15,049/€13,848) to upgrade its machinery and equipment, EU in Georgia said on Friday.
Production of perennial crops in Georgia has increased by 33 percent in recent years and amounted to 600,000 tonnes, Otar Shamugia, the Agriculture Minister of the country, said on Thursday.
Vegetable production in Georgia has increased by 15 percent in recent years and amounted to 176.1 tonnes, Otar Shamugia, the Agriculture Minister of the country, said on Thursday.
Georgian wheat production in 2021 increased by 32.9 percent to 136,100 tonnes, while the production of vegetables decreased by 15.4 percent to 149,000 tonnes year-on-year, the National Statistics Office of Georgia announced on Friday.
The Georgian Government will subsidise agricultural land owners with a state programme offering ₾300 ($97/€90) per hectare, Prime Minister Irakli Garibashvili announced on Monday.
A total of 2,100 hectares of agricultural land will be cultivated free of charge in the country’s Black Sea region of Adjara this year, the local Government announced on Wednesday.
Meat production in Georgia increased in the first quarter of the year to reach 16.7 tonnes, a 5.7 percent increase compared to the same period of 2021, the latest preliminary data of the Georgian National Statistics Office showed along with a decrease in milk production.
Georgia will host the second National Agrarian Olympiad this year to promote non-formal education and employment in the sector, the Agriculture Ministry announced on Friday.
A total of 4,305 preferential loans worth ₾70.9 million ($23.7mln/€22mln) have been issued in Georgia since March 22 to promote cultivation of annual crops, the Georgian Agriculture Ministry announced on Thursday.
A total of 188,000 individuals and legal entities have benefited from the state programme for the promotion of agricultural land owners, Georgia’s Rural Development Agency said on Friday.
A total of 6,651 preferential loans worth ₾104.3 million ($36.6mln/€36.4mln) have been issued in Georgia since March 22 for the production of annual crops by farmers, the country’s Rural Development Agency announced on Friday.
Otar Shamugia, the Georgian Agriculture Minister, on Monday said the Government was allocating ₾16 million ($6 mln) to promotion of Georgian products in “strategic” foreign markets, including in the United States and Europe, this year.