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Law on the establishment of guarantee scheme as a measure of support to the economy for mitigating the consequences of the SARS-CoV-2 caused by the COVID-19 pandemic.

Country/Territory
Serbia
Document type
Legislation
Date
2020
Source
FAO, FAOLEX
Subject
Agricultural & rural development, General
Keyword
Basic legislation Subsidy/incentive Financing Credit Procedural matters Hazards Monitoring Financial agricultural measures
Geographical area
Europe, Europe and Central Asia
Entry into force notes
This text entered into force eight days after its publication in the Official Gazette.
Abstract

This Serbian Law on the establishment of guarantee scheme as a measure of support to the economy for mitigating the consequences of the SARS-CoV-2 COVID-19 pandemic, here regulates the conditions, procedure, amount and manner of providing funds for issuing (state) guarantees of the Republic of Serbia in connection with offered guarantee scheme, including the criteria, conditions and manner of approving of related loans by banks, reporting, and other issues relevant to the above mentioned guarantee scheme. This scheme is created as a measure of support to the economy, in order to mitigate the economic consequences caused by the pandemic of the disease COVID-19 caused by the SARS-CoV-2 virus, with the aim of increasing the liquidity of economic entities on the territory of the Republic of Serbia. Issues of persons who cannot be beneficiaries of a loan secured by a guarantee from the guarantee scheme are laid down in article 5. Persons who are authorized/designated as beneficiaries of a loan secured by a guarantee from the guarantee scheme are defined in article 6 of this text (this list includes agricultural holdings, registered with the Business Registers Agency and classified as an entrepreneur, or a micro, small and medium-sized company). The national Ministry of Finance shall supervise the application and enforcement of these provisions. Conditions for securing a loan in accordance with the guarantee scheme are listed in article 8.

Full text
Serbian
Website
www.pravno-informacioni-sistem.rs

References - Legislation

Repeals

Regulation establishing a guarantee scheme as support measure for the economy in order to mitigate the effects of the SARS-CoV-2 virus pandemic COVID-19.

Legislation | Serbia | 2020

Keyword: Subsidy/incentive, Financing, Procedural matters, Financial agricultural measures

Source: FAO, FAOLEX