Basisbank Invests in Walnut Orchards in Kvareli

Basisbank is excited to announce its investment project: cultivation of walnut orchards in the village of Balghojiani, Kvareli, Kakheti, within the framework of preferential agro credit and Plant the Future state program.

The total cost of the project was GEL 182,000, of which the amount of investment provided by Basisbank is GEL 137,000, and the remainder was funded under the Plant the Future state program.

Within the framework of the partnership, walnut orchards were planted on 18 hectares and a drip irrigation system was fully installed. Walnuts are already yielding and will produce up to 50 tons in 2023. The yield will gradually increase in the following years. The products will be sold on the Georgian market initially. Later, as the productivity increases, the walnuts will be exported overseas. Local people are employed in the orchards.

It is important that the partnership between Basisbank and the agricultural entrepreneur started in 2013. The investment made by Basisbank in the period of the cooperation amounted to GEL 600,000, targeted to expand the farm.

"Our partnership with Basisbank started years ago. We planted vineyards of the Saperavi variety on 4 hectares in 2013, with the financial involvement of the bank and as part of the preferential agro-credit program. The purchase of basic equipment was financed for the vineyard. We renewed the vineyards, fenced the orchards, organized drip systems and purchased the newest agricultural equipment. We also organized a family wine cellar", said sole trader Giorgi Papuashvili.

"We are continually developing cooperation with individuals and companies employed in agriculture, thereby promoting the development of farms and creating new opportunities for successful business activities. We wish this entrepreneur success and hope that our partnership will further expand and reach new dimensions in the future. We are always ready to provide financial assistance to the agricultural sector in all areas," said Giorgi Gabunia, Commercial Director of Basisbank.

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