Georgian banks to postpone payment on loans for another 3 months due to coronavirus
Loans of individuals whose income has reduced recently will also be postponed. Photo: Nino Alavidze/Agenda.ge.
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Georgian commercial banks will postpone payment of loans without capitalisation of interest for another three months for all citizens who have lost their jobs during the coronavirus crisis in Georgia, announces the Prime Minister Giorgi Gakharia.
We had a meeting with the banking sector, where we made a joint decision that all citizens who have lost their jobs and are assisted by the state according to their social anti-crisis plan will automatically have their loans postponed for the next three months", said Gakharia at today's government meeting.
Gakharia said that individuals whose income has reduced recently will also benefit from this offer.
Earlier in March Georgian commercial banks announced they would allow loan servicing to be postponed for three months for both individuals as well as micro, small and middle-sized businesses.
Three months have passed and now the banks are postponing payment of loans for another three months.
The government is also supporting people who have lost their jobs. The anti-crisis plan of the government reads that people who lost their jobs because of the coronavirus crisis or are on unpaid leave will receive 1,200 GEL (about $373.83/€340.76) over the course of six months, which is 200 GEL (about $62.31/€56.79) per month. This assistance will apply to 350,000 citizens of Georgia. A total of 460 million GEL (about $143.30m/€1130.62m) is allocated from the budget.
Gakharia tasked the Revenue Service to issue compensations ‘quickly and efficiently’, so that no citizen left without assistance.
Georgia will compensate people who lost their jobs while on leave due to pregnancy, childbirth, childcare or adoption of a child amid the coronavirus crisis.
Georgian Prime Minister Giorgi Gakharia announced earlier today how the government intends to help businesses and agriculture during the COVID-19 crisis.
The Georgian government will identify people who need help as a result of having lost jobs amid the state of emergency in Georgia. The government will determine who has lost the job in this period through the decreased amount of people who pay income taxes, said Vice Prime Minister Maia Tskitishvili earlier today.
Georgian Prime Minister Giorgi Gakharia stated that the government will help people who have lost their jobs due to the state of emergency announced to prevent the spread of the coronavirus in the country.
In total 57,443 self-employed people have registered in the last 10 days to receive one-time assistance of 300 GEL from the government of Georgia in light of the coronavirus pandemic. The registration of self-employed people on the website of the Ministry of Health of Georgia to receive one-time assistance from the state began on May 15.
Georgian Prime Minister Giorgi Gakharia has appeared in parliament for the second time this week to respond to legislators’ questions about the government’s response to the coronavirus crisis and economic issues.Gakharia, who was summoned by the opposition today to explain ‘why the country has failed to improve its economy and why the gov’t did not provide genuine support for its citizens during the crisis,’ the PM said that the opposition is only trying to mislead the public.