Procedure for the Granting of Subsidies to Debtors Affected by COVID-19 Simplified

In an effort to simplify procedures for the granting of interest subsidies/margin subsidies in relation to credit/financing to micro-, small- and medium-scale enterprises under the framework of the National Economic Recovery Program, the Minister of Finance (“Minister”) has just issued Regulation No. 85/PMK.05/2020 of 2020 (“Regulation 85/2020”), which updates said procedures and replaces the short-lived and now-repealed Regulation of the Minister No. 65/PMK.05/2020 of 2020[1] (“Regulation 65/2020”).[2] The updates set out under Regulation 85/2020 address the following matters: