12.Nov .2020 17:00

Government to Subsidize Bank Loans for Event Companies - Changes in “Enterprise Georgia”

Government to Subsidize Bank Loans for Event Companies - Changes in “Enterprise Georgia”
views 382
Back

The Government of Georgia has made another change in the program "Enterprise Georgia" to help the private sector affected by the pandemic.
 
As bm.ge was informed by the Ministry of Economy and Sustainable Development, event companies will be able to use the credit-guarantee scheme.
 
"Also, event companies, like small and family hotels, will be given a bank loan subsidy for 12 months, which will significantly alleviate the challenges they face as a result of the pandemic," the Ministry of Economy said in a statement.
 
According to the agency, another change in "Enterprise Georgia" will affect farmers.
 
"As a result of clarifying the definition of the purpose of the loan, about 800 small and family hotels, which did not receive state aid in the first stage, will also be able to participate in the loan interest subsidy program.
 
Besides, the provision of the inclusion of microfinance organizations in the credit-guarantee scheme has been clarified. In particular, individual entrepreneurs and companies that have taken loans from microfinance organizations can also benefit from the credit-guarantee scheme," the Ministry of Economy said in a statement.
 
"According to the government's decision, the program "Enterprise Georgia "will be amended, according to which we will help the areas that are still closed due to the pandemic, such as event companies, companies working in the field of exhibitions and conferences, cinemas - they will be included in the credit guarantee scheme.
 
As for the event companies, a separate program will be launched for them, like small and medium hotels, we will subsidize the interest on the bank loan for 12 months," - said the Minister of Economy and Sustainable Development, Natia Turnava.