PM: Gov’t OKs suspension of the payment of bank installments for a period of nine months

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The government has approved on Wednesday several measures from the Support for Romania program, such as the suspension of the payment of bank installments for a period of nine months, supporting institutionalized children, young families and students and extending the SME Invest plus program.

The measure of suspension of bank installments can be accessed by individuals and companies and applies for a maximum period of nine months. According to the emergency ordinance, the rates of Romanians and companies that had an increase of at least 25% of the average monthly expenses can be postponed, for the credits granted until April 30, 2022. These are suspended at the request of the debtor for a period between minimum one month and a maximum of 9 months.

Debtors can benefit only once from the suspension of payment obligations for each loan, according to the emergency ordinance. “Revolving facilities are exempted from the application of this emergency ordinance, including those of the type of credit cards, overdraft and credit lines granted to both natural and legal debtors”, the text of the normative act states. The facility of suspension of installments “may be granted only for loans which have not been in arrears in the last 6 months before the date of the request for suspension of the obligation to pay and do not register arrears on the date of the request for suspension of payment obligations.”

The measure is granted only to debtors who have been financially affected by the serious situation generated by the current crisis. According to the ordinance, “in order to benefit from the suspension of the repayment of principal installments, interest and commissions, debtors send creditors a request to that effect, in letter or electronic means of communication, to the contact details stipulated in the credit agreement or by a another remote communication channel offered by the creditor, at the latest within 30 calendar days from the date on which the provisions of this emergency ordinance become applicable according to art. 7. The application must be accompanied by statements on one’s own responsibility. ”

“We are adopting the measures that are included in the Support for Romania plan and, in this sense, we will approve today the suspension of the payment of bank installments for a period of nine months, a measure that will benefit both individuals and companies facing difficulties. rising prices and all the inflation-related elements we all feel. Also, in today’s government meeting, we will approve the Emergency Ordinance for the support of institutionalized children, young families and students,” the Prime Minister announced at the beginning of the Executive meeting.

Ciuca also announced that the SME Invest plus program will be extended.

“It is a measure that we are taking in order to continue supporting SMEs working in the field of digitalization, in the field of research and innovation, in the field of digital, as well as the start of Start-ups,” the prime minister added.

He also said that several decisions will be made at the meeting that “aim at meeting the tokens and targets of the National Recovery and Resilience Program specific to the second quarter”, so that “the coherence of the implementation of this program” can be ensured.

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