Basisbank continues to support agribusiness. Within the framework of the preferential agricredit program, Farmer’s House planted laurel plantations in the village of Pirveli Khorga, Khobi district, Samegrelo.
The total cost of the project is GEL 357,000, of which the financial support provided by Basisbank amounts to more than GEL 107,000. The company also benefits from the co-funding of the Plant Your Future state project and the USAID program.
The laurel plantation in the Khorga village was planted on a total area of 28 hectares, and approximately 7,200 laurel seedlings were planted per hectare. The plantation was fixed in 2022-2023 and so the entrepreneur expects to receive a full harvest starting from 2025.
With the support of Basisbank and within the framework of the preferential agricredit program, Farmer’s House plans to fully equip the laurel plantation with a modern drip system in the future. The company also owns a modern laurel processing plant, where it receives a decent amount of laurel from other farmers to export it, largely to the Chinese market.
“We are more than ready and willing to provide considerable support to the development of agro-entrepreneurship, which in turn helps strengthen the business and economic development in the country. We believe that Basisbank’s financial involvement will be successful and our partnership will provide this entrepreneur even more opportunities for expansion. We are glad that Basisbank is a reliable financial partner of Farmer’s House, focused on growth and development. We are ready for new challenges to help achieve sound agricultural sector in the country,” said Shmagi Bregadze, head of Basisbank’s Agribusiness Department.