New programme to subsidise mortgage loans from 6% to 8% for families with newborns
In addition, assistance to socially vulnerable children is doubled starting July 1. Instead of 50 GEL, assistance for socially vulnerable children is now 100 GEL in Georgia. Photo: Nino Alavidze/Agenda.ge.
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'Produce in Georgia' state programme will introduce a new programme providing co-financing on loans taken out by families with newborn children to buy a new apartment, announces Georgian Economy Minister Natia Turnava.
Specifically:
- The state will cover 6% of the total interest amount for the families with first or second newborn
- The state will cover 8% of the total interest amount for families with third or every subsequent newborn
- Loan amount should vary from 60,000 GEL to 300,000 GEL
Image: Ministry of Economy.
In practice, this means that most of the interest will be paid by the state. This is a very important programme, which is focused on our future. I think many families will benefit from this programme as soon as it is approved and launched", Turnava said.
In addition, at the initiative of Prime Minister Irakli Garibashvili, assistance to socially vulnerable children is doubled starting July 1. Instead of 50 GEL, assistance for socially vulnerable children is now 100 GEL in Georgia.
In Georgia 541,764 people, or 14.5% of the Georgian population receive social assistance from the state and this number has increased by 83,296 individuals in the last one year, announces the Social Service Agency of Georgia.
What does it include?
Georgian Economy Minister Natia Turnava has presented a 10-year economic development strategy which covers 12 major areas, ranging from small business empowerment, investment attraction, to specific development policies and quantitative indicators in each key area that the country should achieve by 2025 and 2030.
Georgian Prime Minister Irakli Garibashvili has presented his annual report, as well as the government’s 10-year development plan in the state legislature earlier today. Garibashvili said that the government’s goal is to increase GDP per capita to $10,000 over the next ten years and to decrease the unemployment rate to nine percent. He stated that the government will subsidise mortgage loans for families with children and boost support for policemen, soldiers and doctors.
At the initiative of Prime Minister Irakli Garibashvili, assistance to socially vulnerable children will be doubled starting July 1. Instead of existing 50 GEL, assistance for socially vulnerable children will be 100 GEL in Georgia.
Four new programmes have been added to Georgia's export promotion agency Enterprise Georgia today. The programmes will aim to help families with newborns purchase new apartments, increase the financial availability of business loans for the maximum number of business entities, increase the country's export potential and develop agro- and eco-tourism facilities in the Georgian regions.
Ministers of Economy, Agriculture sum up state supported projects
In total 1,806 new business projects have been financed in Georgia since 2013 which created about 53,000 new jobs, while investments amounted to 2.5 billion GEL, Georgian Economy Minister Natia Turnava and Agriculture Minister Levan Davitashvili have announced today.