Liberty Bank and Georgian Hazelnut Growers Association have signed a memorandum of understanding. The aim of this cooperation is to establish support hazelnut grower farmers and establish mutually beneficial cooperation through coordinated activities.

"Within the framework of deepening cooperation between the Georgian Hazelnut Growers Association and Liberty Bank, new opportunities are being created for Georgian hazelnut farmers. With the help of agro card, hazelnut farmers will be able to access financial resources at any time of the year on preferential terms, purchase working capital and finance operating expenses in full compliance with agro-technical deadlines, which will significantly increase crop quantity and quality, reduce risks and losses. The aim of the association is to double the volume of exported hazelnuts (more than 100,000 tons) by cultivating new orchards and modernizing existing orchards, and significantly improve the quality, which will bring additional annual income of GEL 1 billion to Georgian farmers and the country's economy."- Giorgi Todua, Chief Executive Officer of the Association.

"Liberty continues to support small businesses and the agro sector, which represents one of the important directions of the new strategy of the bank. Hazelnut farming is the leading agricultural sector of Georgia and the partnership with the Association of Hazelnut Growers is a step forward for us in the service of the agro sector. Within the framework of this partnership, we are ready to facilitate access to financial resources for up to 25,000 Georgian hazelnut farmers and, through the principle of one window, to easily offer various banking and insurance services throughout Georgia. In turn, cheap financial resources will allow hazelnut growing farmers to further expand their activities, make their businesses more profitable, introduce modern technologies, and all together, contribute to the development of the country." - Irakli Abashidze, Deputy MSME Director of Liberty Bank.

Georgian Hazelnut Growers Association was established in 2013. At present, it unites about 25,000 members in Samegrelo, Guria, Imereti and Kakheti, farmers are united in 2600 working groups. The main goal of the association is to increase the knowledge related to hazelnut care and cultivation in Georgia, to improve the quality of hazelnuts and to increase production. To date, hazelnut farmers are served by the qualified agronomists of the Associations, who are involved in consulting with farmers on a daily basis throughout the season, giving them recommendations and monitoring their work in hazelnut orchards. In addition to services provided by agronomists, the members of the association enjoy the benefits of receiving various services, including: Soil research, pesticides, providing poisoning equipment, crop sorting / drying / storage, etc. As a result of the measures taken, the volume of harvest in the 2020 season exceeded the projected 50,000 tons, thus Georgia regained its position on the world market prior to the invasion of the brown marmorated stink bug.