PM: Commercial Banks Will Restructure Companies' Debts

Commercial banks will restructure companies' debts if necessary, Prime Minister of Georgia Giorgi Gakharia said at a news conference today, when presenting the government's anti-crisis plan against coronavirus impact on the economy.

“Yesterday, we had a meeting with the representatives of the banking sector and decided that commercial banks will restructure loans of companies if necessary. The banking sector will restructure their loans within the next three to four months. Only through this, we will leave 100 million GEL in the tourism sector. In addition, together with the largest banks, we have decided that individuals, citizens of our country, will be exempted from the debt service obligation if necessary within 3 months. This is very important, both financially and socially,” the Prime Minister said. 

By Ana Dumbadze 

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