Decree Law No. 107/2020
- Issuer: Presidency of the Council of Ministers
- Diploma Type: Decree Law
- Number: 107/2020
- Pages: 3 - 4
Summary in plain english
This decree-law establishes exceptional measures to protect the credits of families, companies, private social solidarity institutions and other social economy entities, as well as a special State guarantee scheme in the context of the COVID-19 pandemic.
Given the public health emergency of international scope, declared by the World Health Organization on 30 January 2020, as well as the classification, on 11 March 2020, of the COVID-19 disease as a pandemic, the Government has been approving a set of extraordinary and urgent measures in several matters.What is going to change?
This decree-law allows new adhesions to support measures to protect the credits of families and companies until 31 March 2021 and for a moratorium period (i.e. postponement of payment of a debt) of up to nine months from the date of accession.What advantages does it bring?
This decree-law allows families and companies to manage their credit liabilities, protecting fundamental aspects such as housing or the functioning of the economy.When does it enter into force?
This decree-law enters into force on the day following its publication and takes effect from 1 January 2021.
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