Acting National Bank Governor: reduction of loan interest for 150,000 pensioners “socially significant” decision

Natia Turnava, the Acting Governor of the National Bank of Georgia, on Thursday said the decision to lower interest rates on loans taken by over 150,000 pensioners - made by Liberty Bank in consultation with Prime Minister Irakli Kobakhidze - was “socially significant” and “reasonable”. 

Interest reduction will apply for both overdrafts and regular loans. This will affect over 150,000 loans, with an average interest rate of more than 30 percent. It is important to note that this change will not negatively impact the financial situation of Liberty Bank”, Turnava said.

• Georgian PM, National Bank, Liberty Bank representatives announce reduction of loan interest for 150,000 pensioners

She added her office would work “intensively” with Liberty Bank to decide the “manner” of reduction of interest rates and the start date for the change.