28 March 2013

Within the project «Privileged Agro loan», Bank has already approved 15 loans

Within the project «Privileged Agro loan» up to 100 applications were submitted. Total amount of applications 2,000 000 (two million) GEL. At the present moment the number of approved loans is  15, with total amount up to 500 000 (five hundred thousand) GEL. So far all received application are within two components, which stipulate the loan issuance in the amount of   from 5000 to 100 000 GEL, not more than 8%. Loan purpose is turnover and fixed assets financing for agricultural appointment.  

VTB Bank participates in three components; this means that any person engaged in agricultural activities can get Agro Credit in VTB Bank for any purpose within the project. 

Interest-free commodity loan (installment) – provides 6 month interest-free installments for small farms, for the acquisition of seeds, planting materials, pesticides and veterinary preparations. The farmer has opportunity to get in the store listed materials and at the end of the season to repay the cost of these materials. The amount of credit shall not exceed 5000 GEL.

Privileged Agro loan  for small and large farms  provides turnover and fixed assets financing for agricultural purpose.  Loan amount is determined from 5000 to 100 000 GEL. Interest rate for entrepreneurs and farmers will be not more than 8%. 

Privileged Agro loan for agricultural enterprises suppose the creation of new agricultural enterprises and technical refurbishment of the existing ones.  Loan amount is determined from 30 000 to 600 000 USD, Interest rate not more than 3%. Maximum loan period 7 years.

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