Users of loans approved by the Ministry of Agriculture, Fisheries and Rural Development will be able to reach an agreement or restructure their loans under more favorable conditions, the Ministry announced, based on the decision of the Government of the Republic of Croatia from September 9 of this year.
If users agree to repay the debt in a lump sum, they are entitled to a complete waiver of late interest and a 60% discount on the remaining debt, or a complete waiver of late interest and a 40% discount on the remaining debt if the loan user accepts a restructuring that can last up to 10 years with the possibility of a one-year grace period. This enables, it is further stated in the announcement, further financial restructuring of agricultural holdings and the establishment of long-term financial balance of economic entities, their stability and success in business, as well as the creation of preconditions for further investments and enhanced development of agricultural holdings. This Decision covers the remaining matured but unpaid loan debt of about 2,500 loan parties, which today amounts to approximately 350 million kuna, with a significant share of late interest in the total claims against loan users.
