BAKU, Azerbaijan, Feb.10
By Tamilla Mammadova – Trend:
The conditions for granting loans will be simplified for manufacturers participating in state programs, Trend reports citing Georgian media.
Director of the Produce in Georgia agency Mikhail Khidureli said that the issuance of loans under the loan guarantee scheme will begin after the innovation is agreed with the banks.
According to the afency director, in order for small and medium-sized businesses to have access to funds, a 20-million loan guarantee mechanism was created.
“At the moment, negotiations are underway with banks regarding the loan guarantee mechanism. Our agency and the Ministry of Economy and Sustainable Development of Georgia are working together to simplify procedures to make this mechanism even more attractive to banks and the private sector. Our priority is to start the process as soon as possible,” said Khidureli.
The corresponding agreements with commercial banks were signed on July 25, 2019.
---
Follow the author on Twitter: @Mila61979356