Tuesday, 21 September 2021 11:55 GMT

Georgia to subsidize mortgage loans for families with newborn children


(MENAFN- Trend News Agency ) BAKU, Azerbaijan, August 2

By Tamilla Mammadova – Trend:

Georgia will subsidize mortgage loans for families with newborn children, starting September 1, Trend reports via Georgian media.

"Eligible families will have 12 months, starting from September 1 to apply for loans," said Economy Minister Natia Turnava.

"It will greatly contribute to the well-being of families. In each such family, a newborn child will bring not only great joy but also specific practical benefits,” stated Turnava.

The terms of the state subsidy include:

- The state will offer a loan subsidy to families who will have a child from September 1 with a maximum loan amount of 200,000 lari (about $64,012).

- The state will subsidize six per cent of the loan if the newborn is a first or second child.

- The state will subsidize about eight percent of the loan if the newborn is a third or fourth child.

- The state will subsidize about four percent of the loan for families who have three or more children (without having a newborn child).

The loan interest will be repaid within five years.

---

Follow the author on Twitter: @Mila61979356

MENAFN02082021000187011040ID1102556458


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.