Georgia's credit guarantee system switches to tourism industry
Baku, Azerbaijan, July 9
By Tamilla Mammadova - Trend:
The system of credit guarantees of Georgia will completely switch to the tourism industry and hotel business, Trend reports with reference to the website of the Ministry of Economy and Sustainable Development of Georgia.
Minister of Economy and Sustainable Development of Georgia Natia Turnava talked about it at a meeting with members of the Georgian business association.
According to the minister, financial resources will be directed towards the provision of bank loans, the construction of a new hotel and the expansion of the existing business. This is done in order not to stop implementation of projects on development and expansion.
In addition, the Georgian government is considering an initiative to co-finance bank interest rates for small hotels.
“As a result, we will ease the financial pressure in the field of business and give a very good prospect for future development. In addition, we have a marketing strategy to strengthen the country's secure image, and we will do the best to preserve traditional markets,” said Turnava.