Up to 8,000 families have already taken advantage of Georgia’s Subsidised Mortgage Loan program, with approved loans reaching GEL 932 million, according to the Ministry of Economy and Sustainable Development.

Launched in 2021, the program supports families with children under one year old by subsidising mortgage interest for five years. Deputy Director of Enterprise Georgia, Irakli Gabriadze, said the initiative helps families build or buy homes, with a maximum loan limit of GEL 200,000.

Families receive interest rates 3.5% below the refinancing rate for their first and second child, and 1.5% below for a third or more. Currently, these rates stand at 4.5% and 6.5% respectively. The program also supports single parents, widows, and adoptive families.

Gabriadze confirmed the program will continue, calling it a vital support tool for young families.