The state support measures expansion

The Supreme Council adopted law-in-draft concerning the provision of state support to industrial and agricultural organizations in two readings. Enterprises are given the opportunity to extend the repayment period of the soft loan up to 12 months. The law “On measures of state support for economic entities of the Pridnestrovian Moldavian Republic Previously gave this right for up to 6 months and only to industrial enterprises in connection with the negative consequences of external factors”. Deputy of the Supreme Council Yuri Kucherenko, being a member of the Committee on Economic Policy, proposed changing the current norm. Parliamentarians supported the law-in-draft.

The law on state support measures states that the repayment period of the loan can be changed (extended) on the basis of an agreement between the credit institution and the borrower. Applications from business entities can be submitted until September 1, 2024. It is important at the same time that changes in the repayment terms of the preferential loan are agreed upon with the supervisory board of the State Reserve Fund of the Pridnestrovian Moldavian Republic.

Amendments to the law will come into force after signing at the beginning of the new year.