REUTERS
Yet, the bill does not strip a borrower of an obligation to repay a loan and interest on it.
The Verkhovna Rada, Ukraine's parliament, has passed a bill that prohibits charging penalties and late fees for business loans during the lockdown and in the thirty-day period after the coronavirus-related quarantine is lifted in the country.
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Bill No. 3297 on amendments to the Commercial Code of Ukraine (regarding the prevention of penalties for loans during the quarantine period established to prevent the spread of the COVID-19 coronavirus in Ukraine) was backed in the second reading and in general by 344 MPs with the required minimum being 226 votes, an UNIAN correspondent reported.
The bill was passed without debates.
The explanatory note to this bill states such measures will slow down the economic downturn, safeguard enterprises against bankruptcy, maintain jobs, and accelerate economic recovery after the quarantine.
Yet, the bill does not strip a borrower of an obligation to repay a loan and interest on it.
As UNIAN reported earlier, the Verkhovna Rada on May 13 passed a bill on the extension of tax benefits and on simplifying administrative procedures for businesses during the lockdown.