Economy Minister: Microfinance Sector will Join Credit-Guarantee Mechanism
Microfinance organizations will also join the credit-guarantee mechanism, Georgian Economy Minster Natia Turnava noted.
The credit-guarantee mechanism’s budget will increase from 20 million GEL to 300 million GEL and this amendment will be submitted to the Parliament in several days, as part of the revised budget bill, the Economy Minster pointed out.
“As soon as we have due sources, everybody will be able to use it, including representatives of restaurants. At this stage, we do not plan to halt the process and we want to be ready when the budget exists. Therefore, we have prepared agreements with all commercial banks and microfinance organizations will also join the process. This signifies that the smallest businesses and micro businesses will also use this service and the agreement will be signed in the shortest period. Meanwhile, commercial banks are analyzing loans and businesses and they will be ready to apply to us upon approval of the changed”, the Economy Minister noted.