The Parliament passed the bill on the extension of the loan repayment moratorium

On 20 October 2020, the Parliament has passed the bill on temporary measures aimed at the stabilization the situation of certain prioritized social groups and enterprises having financial difficulties, according to which the following measures are accepted to be taken:

a)  in respect of the unemployed, the persons raising or expecting child, the pensioners and those employed by public service providers the loan repayment moratorium announced and introduced
earlier may be extended until 30 June 2021,

b) the credit institutions are banned from terminating the loan agreements until 30 June 2021,

c) the enterprises having financial difficulties may request a credit repayment moratorium until 30 June 2021; the detailed rules of this shall be set forth in a later Government’s decree to be passed.

The credit institutions are obliged to discuss with their client (preferably in electronic form) the reasons for the client’s eventual default in performance to establish whether it may be classified as falling under point (a) or (b) hereinabove.