25.Nov .2020 19:00

“They Might Have Forgotten about Microfinance Organizations” – Beso Shengelia on Subsidizing Loans to Event Companies

“They Might Have Forgotten about Microfinance Organizations” – Beso Shengelia on Subsidizing Loans to Event Companies
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According to the Government of Georgia's decision, loans of event companies will be subsidized for 12 months. The program is one-time, and it only applies to bank loans. The information released by the agency - "Enterprise Georgia" does not mention microfinance organizations, but the representatives of the industry themselves say that most of them have taken loans in microfinance organizations.
 
Speaking on the subject, Beso Shengelia, the chairman of the Georgian Microfinance Association, said that he did not know the issue in detail, but it is not ruled out that there may be a technical problem and "the government simply missed microfinance organizations."
 
"There may be a technical problem, and the microfinance organizations are forgotten. The impression is that there is a constant technical defect, and the microfinance organizations are forgotten. The same was the case, for example, during the "Lockdown" when there was talk of bank closures and they missed microfinance organizations. This issue will probably be cleared out, but in general, we are often left out. This is what often happens," said Shengelia.
 
After talking to the. Georgian Microfinance Association, bm.ge contacted the agency - "Enterprise Georgia," where we were once again confirmed that the loan subsidy program for event companies would only apply to loans taken from banks.