Valdimer Gurgenidze Summerized Results of Low-Cost Credit Program
OREANDA-NEWS. On May 19 the Prime Minister of Georgia Vladimer Gurgenidze and the Minister of Economic Development Ekaterine Sharashidze met the enterprisers who are the beneficiaries of the Low-cost Credit Program.
The results of the first phase of the project were summed up at this meeting.
The program is projected to the development of agriculture and enhancing exports as well as diversification; it also aims at development of tourism and artisans’ trade, in the course of which new jobs will be created.
1082 applications have entered so far and the total cost of it amounts to 320 million Gel. Georgia’s government has endorsed 21 million Gel loan to be allocated throughout all regions of Georgia. 8.7 million Gel has already been issued and 12.3 million Gel is yet pending for release. About 30 500 persons will be employed after realization of the said project.
"It should be emphasized that the Low-cost Credit Program proved to be very successful and popular. More than 1 000 applications have been received and this is a good proof that our population is manifesting due enterprising skills and initiative in our country. It is impossible to meet all the requirements; dwelling upon the contents and characteristic features of the applications, the loans amounting to 21 million Gel have been endorsed at this stage.
Today, I would like to discuss together with you the details of future development and expansion of the program”, – the prime minister asserted.