CBR advises that banks restructure loans for SMEs and self-employed persons facing problems due to coronavirus
MOSCOW. March 24 (Interfax) - The Central Bank of Russia (CBR) has adviser creditors to restructure loans and credit lines issued to small and medium businesses, as well as self-employed individuals, if their situation has deteriorated due to the spread of coronavirus.
The CBR has sent the relevant letters to banks, microfinancing organizations and consumer credit cooperatives, the regulator said in a statement on its website.
"This measure will help support SMEs that have found themselves in a difficult position due to coronavirus and will facilitate their continue ability to pay off their liabilities in the future," the CBR said.