Watch: Moratorium on bank loans extended for 6 months

LIVE | Il-Ministru għall-Finanzi u s-Servizzi Finanzjari l-Prof. Edward Scicluna jindirizza konferenza tal-aħbarijiet.

LIVE | Il-Ministru għall-Finanzi u s-Servizzi Finanzjari l-Prof. Edward Scicluna jindirizza konferenza tal-aħbarijiet dwar aktar miżuri favur in-negozji.

Posted by MaltaGov on Wednesday, July 1, 2020

Minister for Finance and Financial Services Edward Scicluna announced more access to finance for the business communities.

Highlights from the press conference:

  • Moratorium on bank loans for businesses has been extended for another six months
  • Those who have applied for the moratorium measure in the past weeks or months and also apply for the extension of six months
  • Borrowers have until the end of September to apply
  • The measure applies to credit facilities sanctioned prior to March 1 to individuals, households or businesses which can show that they were negatively affected by the pandemic
  • Individuals have the right to renegotiate their loan terms with the bank
  • Loan repayments can be set by banks with individuals and businesses
  • The repayment period can be extended
  • Interest rates can be altered