Georgia to subsidize mortgage loans to citizens
BAKU, Azerbaijan, May 28
By Tamilla Mammadova – Trend:
The government of Georgia has decided to subsidize mortgage loans to citizens, Prime Minister of Georgia Giorgi Gakharia said while delivering a report to the parliament, Trend reports citing Georgia media
Gakharia noted that the process of subsidizing the mortgage loan will continue until the end of the year.
"We have already developed a specific plan. It’s not just the help for companies, but also for the citizens who have either decided to buy an apartment and improve their living conditions, or are already involved in the process, or have paid the down payment, or have started cooperation with a construction company and their apartment is under construction," he said.
All such risks will be insured by the state, said the prime minister.
From May 27 until the end of the year, the state will subsidize mortgage loans for this category of the population, he added.
"We have made the decision in order to avoid the situation we had after the crisis in 2008,” said the prime minister.
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