The board of the Banco de la República Oriental del Uruguay (BROU) resolved to defer for 180 days the payment of amortizations in credits for all sectors affected by the agricultural emergency.
Likewise, it increased its credit lines to meet the needs of the different items, informed the general manager of the organization, Mariela Espino, to Presidential Communication.
The measure will be implemented automatically in micro, small, and medium-sized enterprises (MSMEs) with loans of less than $200,000, and the BROU will assume the cost of the postponement. In the case of debtors greater than that figure, they will be negotiated to extend the payment for six months, but the producer will have to face the interest costs. These resolutions will apply to customers with current credits as of December 31.
“It is a mechanism similar to what was done in the pandemic with all the sectors that were affected at that time,” Espino pointed out.
He said that the institution sent a request to the Central Bank of Uruguay (BCU) so that the postponement would not harm the qualification of the clients. “What we are looking for here is that, at this serious moment, the client does not have to worry about the issue of maturities in the bank,” he said.
