The Georgian government will act as a guarantor for mortgage loans the Georgian citizens will take starting June 1.
The guarantees will apply to all the people who will take loans until January 2021.
As Georgian Prime Minister Giorgi Gakharia's Economic Advisor Beka Liluashvili said, the government will be a guarantor by securing 20% of a loan.
He says the benefit will apply to loans with the down payment at least 10%.
"When a financial crisis occurs, people face a risk lose their income or suffer its decrease, and borrowers fail to pay interest on loans. We are doing our best to prevent such circumstances,'' Liluashvili said.
"The Government, being a guarantor, is an extra measure to purchase apartments more affordable," Beka Liluashvili concluded.