Georgia plans to subsidize the interest on leasing for event companies

Business Materials 4 December 2020 12:09 (UTC +04:00)
Georgia plans to subsidize the interest on leasing for event companies

BAKU, Azerbaijan, Dec.4

By Tamilla Mammadova – Trend:

Georgian government will also subsidize the interest rate on leasing for event companies and cinemas, said Minister of Economy Natia Turnava, Trend reports via Georgian media.

She made the remark after the government session.

According to her, in addition to bank loans, the interest of which will be subsidized within the framework of the "Produce in Georgia" program for 1 year, the state will also subsidize the leasing interest of cinemas and event companies because companies operating in this sector have purchased inventory with leasing obligations.

"The changes that we are introducing in the "Produce in Georgia" program are related to the event companies to which we have recently extended the loan interest subsidy program. Now we are also introducing leasing interest subsidies as they have approached us with a request. They have purchased some inventory through leasing, and we will release them from the interest rate. We are also introducing cinemas in the loan and leasing subsidy program because it's also an affected industry," said Turnava.

Meanwhile, representatives of the restaurant business are also involved in the loan and leasing interest subsidy program, the program will be officially launched for them from tomorrow.

According to the minister of economy, this was one of the important requests submitted to them by the sector, for which 30 million lari ($9.06 million) was allocated from the budget.


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