The three-month grace period for loans has been already expired. However, the private sector says that they will not be able to meet its banking obligations without extending the grace period. In the current situation, some of the construction business representatives also talked about the need to simplify banking regulations, along with banking obligations.
"The construction business has not yet returned to its original position, including in terms of sales. That’s why it is very important for banks to postpone bank liabilities until the end of the year. We have already talked to the partner bank about this issue, but I think the market should have a unified approach.
Supposedly, it would be good to ease / abolish banking regulations in order to implement the lending process quickly and without hindrance. This will facilitate the partnership between the construction business and the banks. Among them is the simplification of regulations in the part of mortgage loans.
In times of crisis, what the banking sector can do is setting a rate for the businesses. We can work in many directions to overcome the existing challenges,” said Malkhaz Kunelauri, head of RED-CO.
See all the news
რატომ ვერ ვმართეთ კორონავირუსი? - #Forbesკვირა პროლოგი გიორგი ისაკაძე
Q&A: Ek Law Office
LVMH and Tiffany Agree on Lower Price for $16 Billion Takeover
Woman in Charge
Hualing FIZ: Four New International Companies to Establish Free Zone Businesses in Georgia
Focus on Georgia - ADB
Focus on Ganja Gap in Nagorno-Karabakh’s Regional Conflict
Scientific Community Calls for Action Against Lockdowns
Georgian Government seize foreign-owned asset, referred to International Arbitration
Studying Abroad Costs Georgian Students €10,000–15,000
Franco Frattini - Georgia, straying from the rule of law
Letter to the Newsweek Editor: 'Russia Determined to Wield Power in Georgia'
Caspiannews: Georgia’s Actions to Seize Foreign Company Disrupt Telecommunications Corridor Between Europe & Asia
Key Markets Indicators
Turkish cable manufacturer Koc Kablo has opened its first factory in Georgia
TBC Bank announces management change
EU Local Statement on recent public comments with regards to the German Ambassador to Georgia
Oil prices fall further on virus fears, U.S. crude stock build
Georgia reports 3 new cases of coronavirus and 7 recoveries