The credit guarantee system begins by the end of May, and microfinance organizations will also engage in the program, Georgian Minister of Economy Natia Turnava stated.
"After the approval of the budget, we will be able to launch the program. We are already concluding agreements with certain banks and microfinance organizations," Turnava said.
Notably, the credit guarantee system was developed in 2019.
Under the anti-crisis plan of the Government of Georgia, the system budget has reached 300 million GEL. It means that the guarantee will cover a two bln GEL value loan portfolio, and hundreds of small and medium entrepreneurs will receive the loans.
Bela Gelashvili
News Author