BAKU, Azerbaijan, Apr.9
By Tamilla Mammadova – Trend:
The government of Georgia will support small, medium and home-type hotels in paying loans, Trend reports with reference to Georgian media.
The assistance program will cover all facilities that have taken business loans for the construction, repair, expansion and re-equipment of hotels no later than March 1, 2020.
The government will pay 80 percent of the interest rate on the lari-denominated loans, and 70 percent on the loans in euros and dollars. If the company paid 1,000 lari ($315.52) per month, of which 700 lari ($220.87) is the principal amount, and 300 lari ($94.66) is a loan interest, the state will pay 240 lari ($75.73).
The hotels that have taken loans in the amount of up to one million lari ($315,523), or $300,000 or 250,000 euro, can participate in the program as well as those who took a loan for the construction, repair, expansion or re-equipment of hotels with the number of rooms from 4 to 50.
The program aims at compensating losses suffered by the tourism industry, especially small, medium and home-type hotels amid the tourist season failure caused by COVID-19 outbreak.
At the same time, a separate program provides assistance to large hotels, which are also forced to stand idle; for this purpose, 22 million lari ($6.9 million) will be allocated from the budget.
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