Georgia to insure unfinished construction projects in country

Construction Materials 28 August 2020 11:47 (UTC +04:00)
Georgia to insure unfinished construction projects in country

BAKU, Azerbaijan, August 28

By Tamilla Mammadova – Trend:

Georgia must announce an auction of 100 million lari ($32.5 million), which means that it will insure unfinished construction projects in the country in every possible way, said Georgian Prime Minister Giorgi Gakharia, Trend reports via Georgian media.
He made the remark during the government session.

"The next step and the next issue to be discussed concerns another support program of sectoral assistance. As you know, after we began stimulating mortgage loans in response to the economic crisis to strengthen and support the construction business, we began subsidizing mortgage interest rates to ensure that every Georgian family had certain savings to improve their living conditions were not hindered. However, this is not enough," Gakharia said.

As he noted, the government will put a 100 million lari guarantee up for auction to ensure that not a single construction project that was started remains unfinished.

"We all remember what was taking place after the crises of 2008-2009, and to this day, unfinished construction projects that were initiated even earlier are negatively affecting the appearance of Tbilisi, as well as many other cities, while also posing social problems to many of our citizens who have already made down payments for similar construction projects," the prime minister stated.


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