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Monday, April 21, 2014
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VTB Bankhasissued GEL 12.6 mln. within the frame of preferential agrocredit program

03/08/2013 13:51 (260 Day 09:33 minutes ago)

The FINANCIAL -- Press conference will be taking place at the Head office of VTB Bank (Georgia) 14 ChanturiaSt.) at12.00a.m.onJuly31. Directorofretailbusiness Valerian GabuniawillbetalkingaboutVTB (Georgia) participationinagro -creditingprogram.

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VTB (Georgia) hasissued GEL 12.6mln. within the frame of “Preferential agro-crediting program”. VTB (Geoargia) ‘s share in total amount of loans extended within the project equals to 21%.

 

The Bank has financed the following sectors: cropproduction, lifestock farming, aviculture, hothouse facility, etc. Within the frame of the project the Bank has also financed 28 newstart-ups, such as some new enterprises and farms. Loans issued within the project reached GEL 5 mln.


Total amount of loans issued within the Project has been allocated between the agrosectors as follows: lifestock farming/aviculture/beef-farming - 49%, hothouse facility-21%,  grain crops- 11%, vegetable growing/gardening- 19%.


VTB (Georgia) participates in these components. Most of the loans have been issued within the second component. Amount of loans extended within the third component reached USD2 600 000.


“VTB Bank (Georgia) takes an active partinpreferential agro crediting projects inceits first days and we think the project is going with a swing. We also appreciate our participation in the agro project. Execution of the project is tailored mainly forthe branchdevelopment and attraction of financial resources to the sector. According to our forecast amount of loans issued by VTB (Georgia)  until the end of the yearwill reach GEL 25 mln," said Valerian Gabunia, Director of retail business of the Bank.

 

 

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