28.May .2020 17:41

Government to allocate 434 million GEL aimed at supporting development sector

views 152
Back

The Prime Minister of Georgia Giorgi Gakharia has presented a fourth anti-crisis plan today worth 434 million GEL aimed at supporting the construction and development sector of Georgia.

“The first anti-crisis plan supports the tourism sector of Georgia, the second supports agriculture, the third - education and today we are presenting the fourth anti-crisis plan which is dedicated to the construction and development sector of Georgia, which before the pandemic accounted for 9 per cent of our gross domestic product", said Gakharia.

The total budget of the fourth anti-crisis plan is 434 million GEL which is to be divided the following way:

• 70 million GEL - subsidy of interest rate on mortgage loans by the state
• 14 million GEL - a state guarantee on a mortgage loan portfolio
• 150 million GEL- purchase of residential apartments for the IDPs
• 200 million GEL - a state guarantee for the completion of a residential real estate project