National Bank urges banks to provide Belarusians with repayment holidays due to coronavirus

The National Bank of Belarus has appealed to commercial banks with a recommendation to consider the possibility of loan repayment holidays. The regulator sent a corresponding letter to the banks, BelTA informs.

National Bank of Belarus notes that, given the unfavorable epidemiological situation, a likely decline in income of organizations and enterprises is possible. As a result, salaries of employees of enterprises may decline significantly. In this regard, the National Bank recommended commercial banks to reduce the credit burden for the country’s citizens. The regulator suggested that banks consider the possibility of granting loan repayment holidays — delays in loan repayment and payment of interest for its use. Repayment holidays can be provided after the appropriate documents are submitted.

At the same time, it is recommended that loan repayment term be extended.