“It is still very difficult to distinguish between the moratorium statistics and the data not related to the moratorium but I can tell that the value of deferred loans has already reached approximately 1 billion euros… Businesses are aware of this moratorium, they obviously welcome this measure and many of them have already made use of this option,” Mantas Zalatorius told.
On Monday, the association presented the moratorium to members of regional associations of industrialists of Siauliai and Panevezys.
“We are talking to all groups of business interests so as to spread the awareness among businesses about a possibility for any business with loans not exceeding 5 million euros to be granted payment holidays and be given time to regroup its operations,” Zalatorius said.
Each company had time until Jul. 1 to decide whether or not to use the option of this loan payment holiday, he added.
In view of the challenges faced by business due to the coronavirus, the financial market participants signed a moratorium on loan holidays of up to six months for businesses, under which eligible undertakings would be able to take a break from paying principal on their loans, but would have to pay interest or make other periodic payments during the grace period.
The moratorium came into force on April 24 and would remain in effect until Jul. 1.
