The Georgian government will spend 70 million GEL to subside interest rates on mortgage loans.
The budget of the plan which aims to support the Georgian construction sector accounts for 434 million GEL.
Under the plan, for five years, the government will pay 4% of interest rates on mortgages.
The subsidy applies to mortgage loans that do not exceed 200,000 GEL and will be taken by Georgian citizens from June 1, 2020, to January 1, 2021.
Georgian Prime Minister Giorgi Gakharia stated the abovementioned at the presentation the support plan for the construction sector and development.