PM: companies which are launching new projects will be supported by state with 90% bank loan guarantee

According to the PM's statement, the state will be endorsing new business projects by guaranteeing 90% of the bank loans.

As the PM stated during the government session, in addition, the state will be guaranteeing 30% of bank loans for the companies which have already contracted their loans.

"We are introducing several initiatives for today. First of all, it concerns with the change in the credit guarantee mechanism - with the new legislative changes we'll be helping the local companies. The essential component of the initiative is to support the companies that are entering new markets and launching new projects in terms of 90% bank loan guarantee. As for the companies which already are using bank loans, they will be offered a 30% loan guarantee. This is the fastest and the most effective solution for the companies to keep sustainability and liquidity", - stated Gakharia.

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