"Coordinated work is underway for the borrowers who lost their jobs or stopped their business due to the second Lockdown, but the process will not include loan delay”, Aleksandre Dzneladze, head of the Banking Association told BM.GE.

According to Dzneladze, the banking sector is ready for restructuring and now they are waiting for a unified list of borrowers.

"The restructuring process actually started in June, but now there will be additional companies that will be affected by these restrictions in a short period of time. It is important that such individuals and businesses must be registered on the state lists, which provide social packages. This does not mean that other loans are not being restructured, but in relation to the mentioned borrowers, who lost their jobs or stopped their business due to this lockdown, coordinated work is underway. The process does not mean postponement, it is actually restructuring, "Aleko Dzneladze said.

According to him, in order to be involved in the process, the borrower must individually apply to the bank for restructuring and it is necessary to be registered in the government list. The formation of these lists will be completed by December 24.