The periods of delay in repaying the loans provided to economic entities will be increased by 90 days on average, it is said in a decision approved by the Administration Board of the National Bank of Moldova, IPN reports.

The decision, which will take effect on December 31, 2015, specifies the categories of economic entities entitled to such benefits, namely those that perform fruit and vegetable cultivation, processing, canning or selling activities, produce, process and can meat, grow grapes and make and sell wine and wine products. The banks will class the loans provided to these debtors as losses if the period of delay in paying interest on the loans will exceed 450 days, not 360 days, as the National Bank’s regulations stipulate.

The decision was taken following the restrictions imposed by Russia on the import of wine products and fresh and canned fruit from Moldova in a move to support the producers affected by these restrictions. The Administration Board’s decision covers about 1,600 economic entities that took out loans of 4.6bn lei.