22.Nov .2019 14:10

“Regulations’ release gives an effect”, - President of Association of Banks of Georgia Assigns Gakharia’s Initiative

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Alexander Dzneladze, President of the Association of Banks of Georgia welcomes the statement of Prime Minister Giorgi Gakharia on reduction of foreign currency-lending threshold from 200 thousand to 100 thousand GEL and believes that the process will promote economic growth.

Dzneladze also spoke about business lending and noted that the same approach should be applied to business loans in cooperation with the National Bank.

“Any release of the regulation gives some effect. As of today, this decision is a part of encouragement, in order to avoid having a negative impact on economic growth.

Decreasing the foreign currency-lending threshold from 200,000 GEL ($67,168.2/€60,687) to 100,000 GEL is important, as their interest rates have been quite high. Today, the economy needs additional currency and that may be one of the sources ", - said Dzneladze.