Gov't cuts pension loan interest rate by 10%

16:57, 11.02.2022

The Interagency Commission on Friday discussed the pension loans scheme with the members of the ruling team, the opposition, banks and non-governmental organizations.

The Commission decided to cut the interest rate by 10%, starting at 26%. The meeting attendees expect a further decrease in the current interest rate.

Following new conditions, Georgians of pension age will be allowed to choose between the bank of Georgia and Liberty bank, the letter was the only option until now.

The commission member Irakli Zarkua sad the state would pay 15 million GEL to the pension disbursing bank annually, “a kind of the government subsidy to slum the interest rate for retired employees.”

Strategy Agmashenebeli opposition party leader Giorgi Vashadze claims “joint fight resulted in today’s decision.” He pledged his party’s pre-election promises are being fulfilled in stages.

By - Marika Kartozia

Economics

Society

Interagency Commission

pension loans scheme