Reportedly, the project aims to increase access to diversified sources of financing for commercial banks and promote the development of the mortgage bond market in Georgia.

The draft law on mortgage bonds regulates legal relations connected with the issuance of mortgage bonds, the supervision of issuers and their activities.

"Georgia’s new draft law on Mortgage Bonds lays a solid foundation for market development. The project, like the legislation in other European countries, provides strong safeguards for investors, including standards to maintain the quality of the collateral base and asset surplus requirements, which are higher than in the case of some established mortgage bond markets,” - Moody's report reads.