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Ukrainian parliament forbids banks to charge fines for non-payment of loans during quarantine

Source : 112 Ukraine

The law frees the borrower from penalties, fines, penalties for late payment of the loan during the lockdown imposed due to the coronavirus epidemic, as well as within 30 days after its end
14:51, 16 June 2020

The session of Verkhovna Rada of Ukraine
Novosti.ua

Ukraine’s Verkhovna Rada adopted in the second reading the bill ‘On Amendments to the Commercial Code of Ukraine’ concerning the prevention of imposing penalties for loans during the quarantine period established to prevent the spread of coronavirus Covid-19 in Ukraine.’ 344 MPs voted for the decision.

112 Ukraine TV channel broadcasted the session.

The law frees the borrower from penalties, fines, penalties for late payment of the loan during the lockdown which was imposed due to the coronavirus epidemic, as well as within 30 days after its end.

Related: Zelensky warns of default if parliament does not vote on laws necessary for IMF loans

The explanatory note to the bill states that it should protect businesses from penalties and fines for loans during the quarantine period and within 30 days after the end of the lockdown.

Related: Ukrainian govt to launch program of loans for small, medium businesses, - PM

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