Gov’t to subsidise 80% interest rate on loans to sports industry, private kindergartens, restaurants

  • The government launched the bank loan subsidy programme for restaurants in December, 2020, and about 2,000 restaurants applied for the programme, but 'for some technical reasons' only 420 met the requirements and received the subsidy, said PM Gakharia. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 4 Feb 2021 - 13:51, Tbilisi,Georgia

In addition to restaurants, the Government of Georgia has decided to subsidise 80% of the interest rate on loans to the sports industry and private kindergartens, announces Georgian Prime Minister Giorgi Gakharia. 

The government launched the bank loan subsidy programme for restaurants in December, 2020, and about 2,000 restaurants applied for the programme, but 'for some technical reasons' only 420 met the requirements and received the subsidy, said Gakharia.

Today we will approve a decision to alleviate these technical requirements in order for about 2,000 restaurants that applied to the programme earlier to be able to benefit from this state-sponsored activity. In addition, the subsidy will not apply only to restaurants, but also to the sports industry, sport facilities and also private kindergartens, because there was a very serious demand from them", said Gakharia.

However, organisations that violate Covid-19 restrictions in Georgia will no longer be eligible to receive support from state programmes and will not receive state subsidies, said Gakharia also.

Our response to a deliberate violation of the rules will be very strict. We have decided that organisations that do not obey the restrictions will not receive subsidies and assistance provided by the state through economic support measures against the pandemic. In addition, they will no longer be able to participate in state support activities in the future", Gakharia said.

About 200 restaurants in Georgia plan to resume operations on Saturday, February 6 despite the Covid-19 restrictions, announced the chairman of the Restaurant Association, Shota Burjanadze.

Back