MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

The first tripartite memorandum was signed in Poti Maritime Education and Training Center between the Ministry of Economy and Sustainable Development, the Enterprise Georgia Agency, TBC Leasing, and the owner of the fishing vessel, according to which the construction of the first fishing vessel will be financed. 

"For Georgia, including, of course, Poti, fishery is one of the strategic fields for the restoration of which we have done everything under our government. Within the framework of the Enterprise Georgia program we have launched a package of special programs that support fishery and those, who will buy, order, build fishing vessels and serve them. We help them with the credit guarantee scheme, as well as subsidizing loan and leasing interest. It is gratifying that the first such project was signed today, while three more ones are being prepared yet. We hope that the fishing fleet will be restored with our help in the coming months,” - Natia Turnava, the Minister of Economy and Sustainable Development, stressed.

Starting from December 2019, marine fishery has also been among the businesses supported by the Enterprise Georgia program. The program simultaneously provides a credit-guarantee mechanism of up to GEL 5 million (90% collateral guarantee) and a bank loan refinancing rate plus 3% co-financing mechanism, while in case of leasing - the refinancing rate plus 5% co-financing mechanism, which will help local fishermen to buy contemporary fishing vessels.

As a result of joint work of the Ministry of Economy and Sustainable Development, the Maritime Transport Agency and the Enterprise Georgia Agency, the direction of fishery has been added to the Enterprise Georgia program. With the support of the program, the fishing fleet will be significantly upgraded resulting in creation of new jobs. The introduction of modern technologies to the field will lead to a significant increase in the range of fishery products and sales geography.