Today, on September 26, a memorandum was signed between Liberty Bank and the Georgian Hazelnut Growers Association, which envisages the start of an innovative pilot program, particularly providing loans to hazelnut growers (farmers) with simplified procedures.

The US Agency initiated this program for International Development (USAID/Georgia) and the "Georgian Hazelnut Improvement Project" (G-HIP) of CNFA. Hazelnut culture was chosen for the pilot program, and Liberty Bank and the Georgian Hazelnut Growers Association were selected as participants in the program. Within the framework of the new agro project, Liberty has chosen the form of factoring, which is the best means of financing hazelnut farmers in a simplified form and in the shortest possible time.

"In the factoring program, along with Liberty Bank, the warehouse farm of the Georgian Hazelnut Growers Association and the farmer himself are involved. The project is the best opportunity for hazelnut farmers to get financing from the bank in the shortest possible time, by securing the loan only by hazelnuts and by simplified procedures. The only requirement for the aforementioned is the storage of hazelnut products in the drying and storage centers of the Georgian Hazelnut Growers Association, where all the conditions necessary for the storage of hazelnuts are observed to the best extent; It is important that the farmer will no longer be responsible for the quality of the stored hazelnut products. Therefore, the farmer avoids the losses that occur when the hazelnut products are stored at home conditions." - Merab Chitanava, Executive Officer of the Georgian Hazelnut Growers Association.

“ Liberty continues to implement new programs that are tailored to the customer. Today we are starting a new agro-project, which provides giving loans to hazelnut farmers with simplified procedures.

This is an innovative product in banking, and it is the best opportunity for hazelnut farmers to get a loan from the bank in the shortest possible time, only by securing the loan by hazelnuts and in a simplified manner. Liberty will continue to introduce new products that will be tailored to the needs of farmers in the future as well." – Vazha Menabde, MSME Banking Director of Liberty.