Very bold steps need to be made and one of the most significant steps, which we announced several weeks ago, was to service the debt of a large portion of our citizens. We have been actively working for several months to address this problem. Excessive indebtedness is one of the most pressing challenges of our economy. One of the most significant components of this initiative is the responsible lending practice. 'Government of Georgia endeavors to introduce fair rules of game in the country. Starting from December 15 through the end of month individuals will be periodically removed from the Black List of Defaulting Debtors and thus majority of our citizens and their families will celebrate the New Year's Eve without this pressing problem' noted the Prime Minister of Georgia.ДЄccording to the Head of Government of Georgia, political opponents tried but failed to cast a shadow over the initiative. 'Agreements are being concluded with financial institutions. Cartu Foundation is actively working on the issue' added the Prime Minister of Georgia.ДЄccording to the Head of Government of Georgia, the referred database will be updated on a regular basis every single day.

You may easily imagine the scale and magnitude of data we are dealing with. 'It is one of the largest sectors and I wish to underline that work is in progress round the clock. Head of Government stated that data will be uploaded today and tomorrow, starting with customers of Bank of Georgia JSC, TBC Bank JSC and Liberty Bank JSC. 'Web-portal will be up and running from 1800 tonight and consistently updated to let the citizens know their debt status within the so-called Black List of Debtors' noted Mamuka Bakhtadze, Prime Minister of Georgia at the Press Briefing held prior to the Executive Government Meeting today. WEB-PORTAL IS EXPECTED TO BE LAUNCHED AT 1800 TONIGHT AND CONSISTENTLY UPDATED TO INFORM CITIZENS ON THEIR DEBT STATUS Government of GeorgiaWEB-PORTAL IS EXPECTED TO BE LAUNCHED AT 1800 TONIGHT AND CONSISTENTLY UPDATED TO INFORM CITIZENS ON THEIR DEBT STATUS

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