Government to Extend Hotels’ Loans Co-funding Program for 1 Year

The Government of Georgia has decided to continue subsidizing part of the loan interest rate for hotels for a period of 1 year’, Prime Minister Giorgi Gakharia noted after the September government meeting.

The very tourism sector received the first aid from the government, but this turned out insufficient, Giorgi Gakharia noted.

“Today we have taken the decision to extend the loans’ interest rate subsidization program from 6 months to 12 months and this is an only mechanism to support this field.

The tourism field remains under serious pressure and we should do our best to help this sector”, the Prime Minister noted.

“The companies that could not join the program for the past 6 months, they will be given the new opportunity now to apply for the program from September 10 to October 10 and small hotels are enabled to become the program beneficiaries. This is important to assist the sector and maintain job places”, Giorgi Gakharia noted.