Citizen party welcomes reduction in pension loan interest rates

11:52, 03.01.2023

Starting from January 3, 2023, the top ceiling on interest rates for pension loans at Liberty Bank will significantly lower and amount to 26%, the parliamentary opposition Citizens party announced.

The Citizens party said in a statement that the party spearheaded talks about why the most vulnerable population pay the highest interest rates. The party members met Liberty Bank executives, the President of the National Bank of Georgia, and Deputy Health Ministers.

On the PM’s instruction, an inter-agency commission was formed in parliament, involving financial experts, foreign organizations, and the banking industry.

“Considering our efforts and initiatives taken, we agreed on the formation of new competition conditions so that a precise limit would be created, based on which pensioners will get loans at a rate that will not exacerbate their position further,” reads the statement.

By - Elene Dobordjginidze

Politics

citizens

Liberty Bank

pension loan interest rates