Georgian hazelnut producers can get financing secured by a nut

Published 2022년 9월 27일

Tridge summary

A memorandum has been signed between Liberty Bank and the Association of Hazelnut Producers of Georgia to launch a pilot program providing simplified loans to walnut growers. The program, initiated by USAID/Georgia and the Georgia Hazelnut Sector Development Project, will provide factoring loans to hazelnut growers, requiring only the nuts as collateral and allowing for quick and easy financing. The program is designed to avoid losses from home storage and will be run in partnership with the Georgian Nut Producers Association. Liberty Bank plans to introduce more financial products tailored to farmers in the future.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to bm.ge, a memorandum was signed between Liberty Bank and the Association of Hazelnut Producers of Georgia, which provides for the launch of an innovative pilot program, in particular, the provision of loans to walnut growers under a simplified procedure (factoring), EastFruit reports. This program was initiated by the United States Agency for International Development (USAID/Georgia) and the Georgia Hazelnut Sector Development Project (G-HIP) implemented by CNFA. Hazelnut was chosen for the pilot program, and Liberty Bank and the Association of Hazelnut Producers of Georgia became participants in the program. As part of the new agricultural project, Liberty chose the form of factoring, which is the best way to finance gardeners in a simplified form and in the shortest possible time. See also: Weak start of hazelnut export season in Georgia “The warehouse of the Nut Growers Association and the farmer himself participate in the factoring program together with Liberty ...

Source: Eastfruit