VTB Bank increased portfolio of preferential agriculture loan by 14% from early this year.
According to the bank, 75 projects are funded as of June 15 with a total volume of 8 million GEL.
Mamuka Kvaratskhelia, head of Project Management Agency notes on the motivation of banks with state co-subsidizing component. He declares that commercial sector has funded less agricultural projects prior to the agro-credits, as it has been considered as a higher-risk segment.
According to the Agency, loans of 48 million GEL were allocated for 657 beneficiaries. Namely, 24 loans of $3.2 million are issued in foreign currency, while US $ 35 000 for working capital (as of 05.2017).