- Who will receive funding?
- Natural person(s), over 18 years of age, legitimately residing in Abkhazia or the Tskhinvali Region/South Ossetia.
- A citizen of Georgia, over 18 years of age and residing on the territory of Georgia, if the grant project will be implemented on both sides of the dividing lines (Abkhazia or the Tskhinvali region / South Ossetia), both on the territory controlled and not controlled by the Government of Georgia, jointly by a citizen of Georgia and natural person(s), over 18 years of age and legitimately residing in Abkhazia or the Tskhinvali region / South Ossetia.
- What areas are covered by the fund?
- Agricultural sector (e.g.: farming, animal husbandry, poultry farming, horticulture, fishing, beekeeping);
- Industrial sector (e.g.: processing and manufacturing).
Both the expansion of an existing business and new economic activities will be funded.
- Grant projects that are not funded
The Fund’s grant program will not finance projects associated with service-related economic activities (e.g.: hotel and restaurant business, food establishments, beauty salons, retail facilities, automobile services / car wash, education and science, medicine, financial services, transport, media, advertising, digital services, events, logistics, research, gaming business and gambling, professional services, political, charitable and religious activities).
In addition, the grant program does not fund: production of hazardous substances; purchase/import of goods, which are not produced/do not originate in Abkhazia and/or the Tskhinvali Region/South Ossetia, from Abkhazia and the Tskhinvali Region/South Ossetia to the rest of Georgia; production of excisable goods (except for tobacco and alcoholic beverages produced in Abkhazia and the Tskhinvali Region/South Ossetia) in Abkhazia and the Tskhinvali Region/South Ossetia.
- Geographical area for grant projects
The program will provide funding for grant projects involving economic activity and being implemented:
- In Abkhazia or the Tskhinvali Region/South Ossetia.
- In other regions of Georgia, if the business project is submitted by a person living in Abkhazia or the Tskhinvali region/South Ossetia, and on the condition that the project will provide a direct and full economic link with Abkhazia or the Tskhinvali Region/South Ossetia.
- Amount of funding provided by the grant program
Within the framework of the grant program, the amount of funding provided by the Fund to an individual beneficiary ranges from 5 000 to 15 000 GEL; the amount of funding provided by the Fund to a group of beneficiaries ranges from 15 000 to 50 000 GEL.
- Type of funding provided by the grant program
- Within the framework of the grant program, fixed assets and, if necessary, raw materials and consumables needed to start the production process will be purchased, on the basis of a relevant document submitted by a beneficiary.
- It is prohibited to use the grant issued by the Fund for: purchase of real estate (including land); expenses that have already been financed through another organization or program; purchase of vehicles for personal use, except for vehicles intended for agribusiness activities (e.g.: tractors, etc.)
- Making a decision on funding
The selection and evaluation of projects submitted within the grant program is carried out by the Fund’s Project Evaluation and Management Commission. The following factors will be taken into account during the project selection and evaluation process: socio-economic effects (e.g.: employment, economic ties between the populations); Technical and economic feasibility of the project (e.g.: achievability, sustainability, profitability, competitiveness).
- Reporting on funded grant projects
- The Fund oversees the process of reporting on the funded grant projects.
- A beneficiary/a group of beneficiaries are required to provide the Fund with the project implementation reports at the request of the Fund or within the timeframe set by the grant agreement; the report forms are determined by the grant agreement.
Grant applications / projects are accepted in Georgian, Russian or English languages.