DOC Law providing support measures for farmers affected by drought published in Official Journal

Chisinau, Sep 19 /MOLDPRES/- The promulgation decree and the law on some support measures for farmers affected by 2024 drought have been published in the Official Journal and have entered into force.

Under the new regulations, farmers whose agricultural crops have been affected by this year's drought will benefit from the suspension of payment obligations to creditors for a period of six months.

According to the document, the obligation to pay the accumulated outstanding debts, as well as overdue installments on loans and credits, representing principal installments, interest, fees and penalties, due by farmers in 2024 will be suspended.

Creditors will be obliged to examine and approve farmers' requests for suspension of payment within 30 calendar days of receipt. Farmers whose payment obligation has been suspended will not be able to sell their assets during the period of this facility without informing creditors.

At the same time, the draft law stipulates that the financial guarantees issued by the Organization for Entrepreneurship Development, which guarantee the loans requested by eligible borrowers in compliance with this law, shall be extended for a term equal to the term of the loan restructuring/rescheduling, but not longer than 31 December 2025.