We have agreed with banks that loans will be automatically deferred for the citizens to whom we will issue a compensation package,” – said the Finance Minister of Georgia, Ivane Machavariani after a government meeting.
According to Machavariani, banks will also verify and defer loans to people whose income has decreased sharply or suspended.
“You know, for three months, loans were deferred to almost all individuals. At this stage, we held consultations with banks and practically agreed on the following model: citizens to whom we will issue a compensation package, loans will automatically be deferred. In addition, banks themselves will assess the solvency of customers whose income has decreased or suspended. Based on their information, banks will defer loans on the same terms, again, without capitalization of interest”, – Minister said.