28.May .2020 17:06

Government to subsidize 4% of mortgage loans through 5 years – the PM

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According to the Prime Minister, Giorgi Gakharia, the government will subsidize 4% of mortgage loans within the framework of the anti-crisis plan for developers.

In addition, he said 150 million would be allocated to provide housing to 1,800 internally displaced families three years earlier than it was initially planned.

"The Georgian government will subsidize 4% of mortgage loans, for all mortgage contracts that will be concluded by the end of the year for a 5-year term. We will help every citizen who want to improve his/her living conditions.

In addition, the government will spend GEL 150 million by the end of the year to additionally fund three times more construction for IDPs, which means that our IDPs, 1800 families, about 6000 people, will receive apartments three years earlier,” Gakharia said at the presentation of the plan.