Moratorium on payment of debts for farmers hit by drought might be established in Moldova

Chisinau, 19 December /MOLDPRES/ - The parliament today approved a draft law revising the measures of support provided to the farmers hit by the drought, in the first reading.  

Under the document, starting the moment of the entrance into force of the concerned law and till 31 October 2025, a moratorium will be established on the payment of the due debts, including the increases in penalties owed by the farmers to their creditors.  

The document also sees the revising of the criteria of eligibility for the farmers debtors. Thus, the farmers whose crops were damaged at a level of at least 40 per cent of the harvest on an area of at least 40 per cent of the lands owned will be able to benefit from this protection measures. Also, the draft proposes the introduction of a new criterion, according to which also the farmers who manage 1,800 hectares at the most will benefit from these measures.    

The act also sees the revision of the term in which farmers will have to notify the creditors about the case of affection of crops and will invoke the suspension of the compulsoriness of payment of the due depts. This notification will be able to be made till 28 February 2025.  

At the same time, the acts on foreclosure or other measures of recovery of debts will be suspended. Also, no applications will be able to be submitted on the instituting of the procedure of insolvency for the unpaid debts, which come from the contracts on loan and leasing, concluded till 1 September 2024 with banks, non-baking crediting organizations or savings and loan associations.   

The new provisions establish also the interdiction, till 31 October 2025, of the ceding of debts, without the debtor’s agreement.