Opposition slams gov’t for giving 15 mln Gel to Liberty Bank to decrease interest rate for pensioners

The United National Movement MP, former head of the National Bank of Georgia Roman Gotsiridze has slammed the Georgian Dream government for its decision to allocate 15 million GEL for Liberty Bank to decrease an interest rate on loans for pensioners. 

Gotsiridze says that by the decision the government benefited the bank ‘which is affiliated with the ruling party and its founder Bidzina Ivanishvili.’ 

He says that there were better, ‘healthier’ methods the government could have used to decrease the interest rate. 

“26 percent has been set as an upper limit for an interest rate for pensioners. For instance, if a pensioner takes a 300 GEL loan today, he will have to pay 108 GEL annually as an interest rate. According to the recent decision, the pensioner will have to pay 78 GEL instead of the 108 GEL. It is the bank which benefited the most….” Gotsiridze said. 

The ruling Georgian Dream party MPs say that the Bank of Georgia and Liberty Bank participated in the tender announced by the government and the letter won it. 

They say that the change will help pensioners.