23 May 2013

Within the project «Privileged Agro loan», Bank has already financed 11 startups

Within the project «Privileged Agro loan» VTB Bank issued loans with total amount up to 4,2 million USD. Among funded sectors are: plant growing, livestock, poultry keeping, greenhouse farming.  With Agro loan Bank has funded 11 startups, among them several new enterprises and farms. Amount of loans issued to finance startups reaches one million three hundred thousand GEL. 

The total amount of loans was allocated between agro sectors as follows: livestock/poultry/beekeeping -45%, greenhouse farming -17%, grain crops -13%, and gardening/horticulture 25%.  

VTB Bank participates in three components of Agro loan project. The majority of issued loans  - within second component. Loan amount issued within third component is almost 800,000 (eight hundred thousand) USD.

For information:
Privileged Agro loan project provides 3 main components:

Interest- free commodity loan (installment) – provides 6 month interest-free installments for small farms, for the acquisition of pesticides and veterinary preparations. The farmer has opportunity to get in the store listed materials and repay the cost of these materials at the end of the season. The amount of credit shall not exceed 5000 GEL.  Interest rate from 0%.

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. 
Льготный Агро кредит для сельскохозяйственных предприятий  предусматривает создание новых сельскохозяйственных предприятий  и технологическое переоборудование существующих предприятий. Сумма кредита от  30 000 до 600 000 долл. США. Процентная ставка не более 3%. Максимальный срок кредита 7 лет.

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