Up to 8,000 families have already benefited from the state program Subsidised Mortgage Loan, with approved loans totalling GEL 932 million, the Ministry of Economy and Sustainable Development reported.
According to Irakli Gabriadze, Deputy Director of the Enterprise Georgia agency, the program supports families with children under one year old who are in the process of obtaining a mortgage. Launched in 2021, the initiative aims to assist families in building or purchasing a home by subsidising mortgage interest for five years.
The maximum loan amount is GEL 200,000. Under the program, families receive an interest rate of 3.5% below the refinancing rate for their first and second child, currently 4.5%. For the third and subsequent children, the subsidy is 1.5% below the refinancing rate—currently 6.5%,” Irakli Gabriadze said.
The program also applies to single parents, widows, and adoptive families. Gabriadze emphasised that the program has proven to be a vital support mechanism for families with children and confirmed it will continue, offering more families the chance to participate.
