- Mom jailed over refusing son's circumcision makes tough call 2015-05-29 11:56
- Kerry sued over Hillary Clinton’s emails 2015-05-29 09:42
- A Website That Lets You Spy On Millions of People 2015-05-29 02:18
- Social Revolution In Ireland: 62% of Irish Voters Say YES To Gay Marriage 2015-05-29 02:11
- Killer robots will leave humans ‘utterly defenceless’ warns professor 2015-05-29 00:35
- Russian Air Force to Get at Least 50 New Strategic Tu-160 Blackjack Bombers 2015-05-29 00:21
- Chicago cops posed with black suspect wearing deer antlers 2015-05-28 13:40
PM of Georgia presented the project of economy stimulation2009-06-30 17:47
Today Nika Gilauri, the PM of Georgia, today presented the project of economy stimulation at the sitting of the government of Georgia - Regnum.gt-en-newsitem-inside
According to the project, GEL 260 mln will be lured by selling treasury bills to banks. The money will be spent on infrastructure projects implementation. "Today the banking sector and companies have certain financial resources, but they refrain to invest those resources in the economy because of the risks associated with the economic crisis," the government said in a statement.
Also, the government intends to receive credits from EBRD and the Asian Development Bank. The Prime Minister mentioned the government intends to lure GEL 700 mln to the banking sector - "In order to foster return of these resources back into the economy". In his view it would be "an important stimulus for the banking sector to activate issuing of loans."
The package to renew Tbilisi infrastructure, which will help to create several thousand working places, is being planned to be prepared. According to Gilauri, money should be allocated not only for infrastructure projects [roads, pipeline etc], but also for stimulation of separate sectors of economy.
The PM's project proposal also included the joint initiative of the association of banks, association of developers and the Georgian Chamber of Commerce and Industry: state-guaranteed loans to construction firms to foster their participation in the plan aimed to resettle residents of old houses, which are in poor condition and located in the central districts of Tbilisi, to new ones, which will be constructed by the participating companies. The government annually spends USD 176 million on the repair of these old houses.