Home / Economy / 150 Mln Issued to Animal and 73 Mln to Sheep Breeding within Preferential Agro-credit Program

150 Mln Issued to Animal and 73 Mln to Sheep Breeding within Preferential Agro-credit Program

A total of 18 750 loans were granted in the 2nd and 3rd components in the frames of  Agriculture Ministry’s  Project Management Agency program.

The 2nd and 3rd components are calculated for different areas. Depending on volume, the 2nd component is meant for medium and large farmers and ranges within GEL 5 000 -100 000.

The 3rd component is designed for large primary agricultural enterprises, agricultural products processing enterprises, storage facilities, such as warehouses, refrigerator, drying and packaging material manufacturers.

According to statistics, the largest volume of soft loans was issued in the region of Kakheti (40%) followed by Shida Kartli and Kvemo Kartli (16-17%).

Most of the loans were issued to animal breeding. By this time, within the 2ndcomponent 8.093 loans and GEL 129,429,541 were issued to animal breeding. Within the 3rd component,  148 loans and USD 9 994 511.

By  quantity and amount, sheep breeding is the second largest sector. In this field, 2 813 loans and GEL 69 289 620 were issued within the 2nd component while within the 3rd component- 68 loans and USD 3 629 400 were issued.

According to the manager at Agriculture Ministry’s Project Management Agency Irakli Moistsrapishvili, due to demand for loans, it can be  assumed that these sectors are actively developing.

After amounts are issued, monitoring service controls each beneficiary in order to avoid spending MONEY inappropriately. If such a fact is recorded and it turns out that money is not spent, the farmer will be expelled from the program.

Out of 22 000 loans, only 100 cases of  violations of the project conditions were revealed as well as different types of misconducts.

Apart from cattle and sheep breeding, the largest volume of loans was allocated for the following sectors:

Grain production – 1 052 loans,  GEL 25 627 250 in the  2nd component; within the 3rd component 8 loans, USD 712 500.

Greenhouse farming – 837 loans, GEL 10 117 804 within the 2nd component; 60 loans, USD 5 449 000 within the 3rd component.

Viticulture – 427 loans, GEL 7 959 384 within the 2nd component; 53 loans, USD 3 568 309 within the 3rd component.

Gardening-  214 loans, GEL 3 019 440 within the  2nd component; 24 loans, USD 3 625 300 within  the 3rd component.

Fisheries – 210 loans, GEL 6 696 850 within the 2nd component; 31 loans, USD 2 279 113 within the 3rd component.

Poultry farming – 221 loans, GEL 4 524 844 within the 2nd component; 47 loans, USD  5 917 976 within the 3rd component.