Farmers and the Village should Ensure Overcoming the Crisis
1999
Pateishvili, V. (President of "Bank of Georgia", (Georgia))
The history teaches us, that the country that has undergone through serious social and economic problems, overcomes the crisis and reaches recovery of national economy on the bases of agricultural production development. This is the necessary element in the complex of measures, that ensure positive solvency balance in the country and stability of national currency. Nowadays our peasants, farmers are in need of economic and organizational support. At this bstages of development it is recomended to use resources of foreign countries and International Agancies, but they are less available for private agri-sector. In addition, they increase external depts of the state, budget shortfalls and require state guarantees. In these kinds of conditions it is necessary to actively use direct foreign investments for the development of national economy, that has already became the norm in other countries. Fortunately several banks of Georgia became strong and foreign partners have confidence in them, so that they ensure direct allocation of credit resources, without state guarantees. In June of the last year the Bank of Georgia made contract with EBRD, on the base of which the credit line of USD 7 million was opened. From the total amount of 16 projects, substantial investments are directed to agricultural processing enterprises, implementation of which should have tangible effects on increase of the country`s export potential and import limtation.
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