Bidzina Ivanishvili’s private charity fund “Cartu” has written-off delinquent loans of 609,542 Georgian citizens, amounting over 4 billion Georgian Lari.
Mamuka Bakhtadze, Prime Minister of Georgia, who represents Ivanishvili’s party, thinks that this project was one of the most successful solidarity act in recent history.
Prime Minister of Georgia once again expressed his gratitude to Cartu Foundation and noted that without its support project of such scale and magnitude could not have been implemented and it ended being truly unprecedented.
Project participants were 38 financial organizations within the period of December 15-31, 2018, while 14 more creditors expressed their willingness to get engaged in the initiative in the period of January 1-15, 2019. Cartu Foundation has thus concluded the Debt Write-Off Agreements with them as well.
"Unfortunately, small portion of financial organizations were left beyond the scope of the project. We can call upon them to offer concessions to defaulting debtors on their own, similar to those that already announced willingness to follow the initiative" concluded the Prime Minister of Georgia.
