Changes are being introduced to Georgia’s preferential agricultural credit program. According to a decree by the Georgian Dream government on March 4, the funding cap for “dairy, beef, combined, and breeding farms” under the “Preferential Agrocredit Fixed Assets” subcomponent will be doubled.
Previously, beneficiaries could receive loans ranging from a minimum of 20,000 GEL to a maximum of 5 million GEL. Under the new amendments, the upper limit has been increased to 10 million GEL.
The updated regulations also set interest rate conditions for larger loans. For loans between 5,000,001 GEL and 10,000,000 GEL, financial institutions cannot set a fixed annual interest rate higher than 15%. For variable-rate loans within the same range, the interest rate must not exceed the refinancing rate plus 5%.
