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Co-Financing Mechanism
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Hotel & Balneological Resort Industry
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Agro & Eco-Tourism
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Tourism Services
The Co-Financing Mechanism provides terms for the hotel industry, agro and eco-tourism industry, and tourism services.
* Commercial Banks / Leasing Companies
- Within the framework of the loan component, the Agency subsidizes the loan interest rate determined by the national refinancing rate minus 5%; In the case of the leasing component, the Agency subsidizes the loan interest rate determined by national refinancing rate minus 3%;
- Within the framework of the loan, the Agency guarantees no more than 80% of the loan principal amount for a maximum period of 10 years;
- The minimum loan/leasing project amount is 50,000 GEL, and the maximum is 10,000,000 GEL;
- At least 50% of the loan should be used for capital expenses and not more than 50% for working/operational capital.
* Program Conditions
- The beneficiary of the program must be an entrepreneur who meets the 3rd or 4th category enterprise criteria (only in its income component) - in accordance with the Law of Georgia on Accounting, Reporting and Auditing, this can be checked through the link: www.reportal.ge
- The first Loan/Leasing tranche should be adopted within six months after the approval of the Loan/Leasing subject by the Agency.
- The Full disbursement of the loan should be adopted within two years after its approval by the Agency;
- Within the framework of the EU Pilot Regions Program, for applications confirmed by the Agency in 2022 - In case of a loan ranging from GEL 50 000 to GEL 1 500 000 beneficiaries from the pilot regions will receive a grant from 10% to 20% (For further information please visit Grant page).
- Program Conditions:
- The hotel must include at least ten rooms and must meet the documented criteria ;
- The geographical locations of balneological resorts: Aspindza, Vardzia, Zekari, Torghva Bath, Lashichala, Lebarde, Menji, Muashi, Nasakirali, Nunisi, Sulori, Skuri, Utsera, Ujarma, Pasanauri, Shovi, Tsaishi, Tskaltubo, Abastumani, Akhtala.
- The International Brand
- Reimbursement of the amount paid under the relevant agreement on the use of an international brand - Within 36 months, no more than 600,000 GEL; Within a year, no more than 300,000 GEL;
- Available both when utilizing the loan/leasing component and independently.
Agritourism Facilities
- A farming business that is foreseen to receive tourists and provide at least one of the below services in correlation with self-produced products:
- Catering services
- Accommodation
- Educational, entertaining, recreational activities.
- Furthermore, for a farm to be considered as an agro-tourism facility, the applicant must fulfill all of the below criteria:
- Must own or have lawful use permission for the farming territory;
- Must be registered as a business operator following the requirements of the Food/Animal Feed Safety, Veterinary, and Plant Protection Code;
- Must be registered in the Register of Farmers of the Ministry of Environment Protection and Agriculture of Georgia.
Eco-Tourism Facilities
- A tourist facility that upholds at least one of the following criteria to the guest by minimizing the impact on the environment and preserving the culture:
- Placement of residential architecture typical for the region; (up to 10 rooms)
- Traditional handicraft workshop with an educational component;
- Rental service of a non-motorized type of transport.
Program Conditions:
Theme Parks and Adventure Tourism - implemented by the mandatory conditions set out in Annex N5 (in Georgian). In the framework of which the list of economic activities given in the above appendix may be defined as additional activities.
- Theme Parks - A variety of theme parks that includes Ethno/Ethnographic Park and Wake Park:
− Ethno/Ethnographic Park - an imitation of an artificially created authentic settlement, with characteristic architecture and infrastructure, representing at least one of the lifestyle and ethnographic characteristics of a certain ethnic group: lifestyle, cuisine, religion, traditional clothing;
− Wake park - a park designed for water skiing/waterboarding, surfing, and other adventure water activities, located on an area of not less than 3 (three) hectares, which should additionally include services such as food facility and/or water sports equipment shop and/or sports school, etc.;
- Adventure tourism - a type of tourism that, according to the World Tourism Organization (UNWTO), includes at least two of the three elements listed: Physical Activity, Being in a natural environment/nature, and cultural elements. The above mentioned contains: types of land-based tourism, water-based tourism, and air-based tourism.