Banks Association: Loan Repayment Suspension for Fire Victims

The Banks Association announced a suspension of loan repayments for fire victims for up to 6 months. The announcement expresses the Association's deep sorrow for the loss of life, the destruction of the natural environment, and the loss of property.

The measures to be taken by commercial banks include the right to suspend loans for households and businesses directly affected and covered by state support measures. In addition, loans will be granted on preferential terms to cover urgent needs, as well as special facilities to businesses to repair the damage.

Foreclosures are also suspended for 6 months for individuals and businesses directly affected. The Banks Association calls on beneficiaries to declare their interest to the banking institution with which they cooperate.

Source: RIK Radio/CNA