Procedures for the Granting of Government Guarantees Further Regulated

In a bid to implement various provisions originally set out under Regulation of the Government No. 23 of 2020 on the Implementation of the National Economic Recovery Program in Order to Support State Financial Policies for the Mitigation of the Corona Virus Disease 2019 (COVID-19) Pandemic and/or to Deal With Threats That Are Potentially Harmful to the National Economy and/or Stability of the Financial System as Well as to Save the National Economy (“Regulation 23/2020”),[1] the Minister of Finance (“Minister”) recently issued Regulation No. 98/PMK.08/2020 (“Regulation 98/2020”), which specifically addresses procedures for the granting of government guarantees to corporations through an appointed guarantee business entity under the framework of the implementation of the National Economic Recovery Program (Program Pemulihan Ekonomi Nasional – “PEN”).