(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.
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