BAKU, Azerbaijan, June 6
By Tamilla Mammadova - Trend:
In connection with the crisis arising from the coronavirus pandemic, important changes were made to the Produce in Georgia state loan and leasing subsidy program, Trend reports via the Produce in Georgia Agency.
The credit limit required to participate in the program was reduced to 50,000 lari ($16,949), and the maximum volume rose to 10 million lari ($3.3 million).
The program added the production of plastics, building materials, mineral waters, as well as laboratories.The period of co-financing has increased from 24 to 36 months.
Moreover, the program budget was increased from 20 million lari ($6.7 million) to 300 million lari ($101.6 million). A guarantee of 90 percent instead of 70 percent will be provided for each loan issued by a commercial bank under this program. At the same time the state guarantees 30 percent of the old loan.
An entrepreneur will be able to obtain loan worth from 50,000 lari ($16.9 million) to 5 million lari ($1.6 million) under the loan guarantee scheme.
The budget for the micro and small business support program has been increased from 10 million lari ($3.3 million) to 40 million lari ($13.5 million). The size of grants has been increased to 30,000 lari ($10.1 million), and the share of co-financing requested from the winners of the program has been reduced from 20 percent to 10 percent. In addition, Tbilisi was added to the target territorial units of this program.
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