27.Aug .2020 18:37

Government puts a 100-Million-GEL Guarantee Up for Auction to Ensure Construction

Back

Today, we must announce an auction of 100 million GEL, which means that we will insure unfinished construction projects in the country in every possible way, Georgian Prime Minister Giorgi Gakharia stated during today's session of the government.

According to him, the construction projects that remained unfinished since the crises of 2008-2009 negatively affect the appearance of Tbilisi, as well as many other cities, while also posing social problems to citizens.

"The next step and the next issue to be discussed concerns yet another support program of sectoral assistance. Today, we must announce an auction of 100 million GEL, which means that we will insure unfinished construction projects in the country in every possible way. As you know, after we began stimulating mortgage loans in response to the economic crisis in order to strengthen and support the construction business, we began subsidizing mortgage interest rates to ensure that every Georgian family that had certain savings for the purpose of improving their living conditions was not hindered. However, this is not enough. At the same time, we will put a 100-million-GEL guarantee up for auction to ensure that not a single construction project that was started remains unfinished. We all remember what was taking place after the crises of2008-2009, and to this day, unfinished construction projects that were initiated even earlier are negatively affecting the appearance of Tbilisi, as well as many other cities, while also posing social problems to many of our citizens who have already made down payments for similar construction projects," the Prime Minister stated.