State changes procedure on loans with government guarantee, shareholders asked for personal assurance
The procedure as it stands now requires shareholders of companies that the state does not have a stake in to provide personal guarantees
Finance Minister speaking in parliament
The Finance Ministry has brought changes to the procedure through which the government provides guarantees to loans borrowed by companies not operated by the state.
The new procedures require the borrower to deposit securities that are equal to the amount borrowed in addition to paying a management and commitment fee.
The procedure as it stands now requires shareholders of companies that the state does not have a stake in to provide personal guarantees.
It also asks that said shareholders inform the Finance Ministry if they are unable to pay the borrowed amount, and if securities need to be liquidated.
