The chairman of the Association of Micro-finance Organizations explains the reasons for involving the debt annulment program.
According to Besik Shengelia, some micro finance organizations have had an idea before the government"s initiative that they could make some benefits to socially vulnerable clients.
According to Shengelia, the initiative developed by micro finance organizations should have been activated before the New years and applied to the socially vulnerable.
According to Shengelia, the government outpaced micro finance organizations and that is why they decided to join the program.
According to the initiative, the Government will pay the debts of the people in the so-called debtors black list , but the debts will only be written off to the persons whose loan is less than 2000 GEL. According to the Prime Minister, there are 600,000 citizens in this country and their debt is worth a billion GEL .Debt Program will start from December 16 and will end on December 31.