Consent of the Committee to state guarantees for corporate loans

The National Assembly Committee on Finance has endorsed a bill to guarantee loans to businesses to revive production following the epidemic of the new coronavirus.

The amount of individual loan will be limited to 10 percent of the company’s annual turnover or yearly labour cost. The opposition wanted to raise the amount, but unsuccessfully.

For loans to micro, small and medium-sized enterprises, the state will guarantee up to 80 percent of the principal, and up to 70 percent of the principal for large companies. The total amount of guarantees is set at EUR 2 billion.

The National Assembly will approve the law at the Tuesday session, when also an amendment to the first anti-corona law, in force since April 11, is on the agenda.


Source: STA

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