Gov’t to Co-Finance Bank Loan Interests for Small Hotels

At the meeting with the representatives of the Business Association of Georgia (BAG), held on July 8, Mamuka Bakhtadze, the Prime Minister of Georgia announced a new initiative, within the scope of which, the Government is to ensure the co-financing of the bank loan interests for the existing small-sized hotels, whereas the state will serve as the guarantor for launching the new ones. The project is aimed to boost the tourism industry, one of the major priorities of the Government of the country, and contribute to its further development.

At the meeting, the Head of the Georgian Government accentuated the significance of the tourism industry for the country as one of the fastest growing fields, creating a multiplicity of work places.

Along with the new initiative, Mamuka Bakhtadze and the business sector reps also had a conversation regarding the upcoming steps the government has to make, in order to minimize the expected losses in the hospitality industry, as well as to promote Georgia on the international arena.

The meeting was held in the Q/A format, enabling the attendees, to obtain answers on the topics of their interest from the Government officials, including Natia Turnava, Minister of Economy and Sustainable Development, Ivane Matchavariani, Finance Minister, Sozar Subari, Prime Minister's Advisor for Regional Development, as well as Mariam Kvrivishvili, Head of the National Tourism Administration.

By Ketevan Kvaratskheliya