5/22/24

Suspension of loan installments for agricultural, fishing and aquaculture businesses

Banca Progetto is alongside its customers to deal with the economic crisis of agricultural, fishing and aquaculture businesses, activating the legally mandated measures.

Banca Progetto has implemented the measures provided by decree - law 15 May 2024, n. 63 containing "Urgent provisions for agricultural, fishing and aquaculture businesses, as well as for businesses of national strategic interest", published in the Official Gazette no. 112 of 15 May 2024 (Official Gazette).

In particular, paragraph 2 of the art. 1 of the decree - law has provided - for agricultural, fishing and aquaculture businesses which in the year 2023 have suffered a reduction in turnover equal to at least 20 percent compared to the previous year - the possibility of making use of the suspension, for twelve months, of the payment of the principal amount of mortgage instalments, also perfected through the issuance of agricultural bills, expiring in 2024.

Companies can benefit from the suspension:

• which certify the reduction in turnover in the percentage indicated above through the presentation of a self-certification, pursuant to article 47 of the consolidated text of the legislative and regulatory provisions regarding administrative documentation, referred to in the decree of the President of the Republic 28 December 2000, n. 445;

• whose debt exposures are not, as of 16 May 2024, classified as impaired credit exposures, pursuant to the regulations applicable to credit intermediaries.

Customers can therefore request the suspension of payment from the Bank by submitting the corresponding request (see Annex 1) accompanied by a self-certification made in accordance with Presidential Decree of December 28, 2000, no. 445, and subsequent amendments (see Self-Certification Annex).

The total amount suspended must be repaid to the Bank without any additional charges or costs in terms of fees or processing expenses. The maturity date of the mortgage will be extended for a period corresponding to the suspension period.

The borrower will pay the Bank, for the duration of the months of suspension, an installment of interest only calculated on the residual principal debt, at the rate and in the manner provided by the contract.