Agriculture Minister says state to continue co-financing loan interest for farmers growing annual crops

Otar Shamugia, the Minister of Environmental Protection and Agriculture of Georgia, on Wednesday said the state would continue co-financing expenses required for maintenance of annual crops by farmers.

Shamugia said the financing would be continued at a rate of annual nine percent with the upper limit of ₾100,000 ($37,041).

The Minister added the Rural Development Agency would help farmers to cover current costs of growing annual crops - vegetables as well as horticultural crops at all stages of plant care and cultivation - through the Preferential Agrocredit project launched in 2013.

He also noted “all costs” of growing crops in hazelnut orchards with an area of more than three hectares would be financed with up to ₾3,000 ($1,111), adding farmers could take out loans from ₾5,000 ($1,852) to ₾300,000 ($111,124) for 12-month co-financing at eight percent.