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Raul Khadjimba held a meeting on small business lending with the heads of commercial banks of Abkhazia

SUKHUM -- The meeting was attended by Chairman of the National Bank of Abkhazia Beslan Barateliya.

It discussed the active involvement of commercial banks for small business lending program developed by the National Bank. Raul Khadjimba said that this project is very important for the country and expressed hope for active cooperation of commercial lending institutions and the National Bank.

Beslan Barateliya noted that since June 15, the first stage of the program is filing applications to the commission at the Ministry of Economy, which will determine the priority for the state projects. At the same time, the right of selection of the projects approved by the Commission under the credit lies on the commercial banks. "At this stage we are not talking about consumer credits, - the chairman of the National Bank. - It will be a completely different project that we are currently developing and plan to launch in the fall".

To obtain a loan you need to provide collateral. Potential borrower must be registered as an individual entrepreneur. "Despite the fact that the project has a social dimension and will lend at low interest rates, our citizens must understand that the money are borrowed and must be returned to the state", - said the Beslan Barateliya.

Raul Khadjimba said that the results of the program will assess its effectiveness. In case of its success, the program may be extended.

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