Bank of Georgia, SOCAR Energy Georgia sign agreement
Georgia, Tbilisi, March 16 / Trend N. Kirtskhalia /
Georgia's Energy Minister Alexander Khetaguri called the agreement signed between the Bank of Georgia and SOCAR Energy Georgia (a subsidiary of the State Oil Company of Azerbaijan) on Tuesday important. This agreement envisages giving the public credit for supplying their homes with gas and the installation of meters.
"This is important agreement, because citizens living in regions have many problems. They have no possibility to fully pay the amount necessary for supplying their homes with gas. Accordingly, the initiative shown by the Bank of Georgia must be welcomed. This will accelerate gasification of new users' houses, " Khetaguri said.
SOCAR said that according to the agreement between the Bank of Georgia and SOCAR Energy Georgia, Georgian Bank will finance physical entities wishing to be supplied with gas and install meters. They will get a credit worth up to 500 lari for 12 months. SOCAR Georgia Gas's users (supply and distribution of gas in Georgia) will pay for the supplied gas in the Bank of Georgia.
Bank of Georgia allocates 75 million lari on lending of SOCAR Georgia Gas users.
SOCAR Georgia Gas became the winner of the tender, announced in 2008 by the Ministry of Economic Development of Georgia. It got 30 gas distribution networks in cities and regions of the country. Under the three-year program, the number of users of networks will be increased by 150,000.