02 July 2020,   19:48
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Local companies which are launching new projects will be supported by state with 90% bank loan guarantee - the Prime Minister

Local companies which are launching new projects will be supported by state with 90% bank loan guarantee. Such a statement made today the Prime Minister of Georgia.


According to Giorgi Gakharia, the state will also guarantee 30% of bank loans to the companies which have already contracted their loans.


“We are introducing several initiatives for today. First of all, it concerns with the change in the credit guarantee mechanism - with the new legislative changes we will help the local companies. The essential component of the initiative is to support the companies that are entering new markets and launching new projects in terms of 90% bank loan guarantee. As for the companies which already are using bank loans, they will be offered a 30% loan guarantee. This is the fastest and the most effective solution for the companies to keep sustainability and liquidity”, - said the Head of the Government.

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