Banks to rescue Elit Electronics

The authorities of five leading Georgian commercial banks, TBC Bank, Bank of Georgia, VTB Bank Georgia, Peoples Bank and Bank Republic, stated yesterday that they had jointly created a special programme to rescue the leading company Elit Electronics, which has serious problems at present as a result of the world crisis and some shortcomings in the management of the company. GEL 1 million has been set aside by these banks for this purpose and a 5 year programme has been elaborated to help the Elite Electronics network of shops recover.