Abi, Anci and Upi have signed an agreement for the suspension for one year of the principal portion of mortgages of Municipalities and Provinces. Municipalities and provinces will be able to ask the banks, which will adhere to the agreement, to suspend the principal portion of the installments of loans that expire in 2020 for one year. In this way, municipalities and provinces will have additional liquidity to support the higher costs resulting from the effects induced by the diffusion of COVID-19.
In particular, the agreement provides, among other things, for the possible suspension of the payment of the principal portion of the installments of the mortgages that are due to expire in 2020, for a 12-month suspension period, that the economic conditions set out in the contract are not changed ( the interest rate at which the suspension is carried out is that originally envisaged in the contract and the participating banks will not apply any commission to the suspension operation), that the interest accrued in the suspension period is paid to the bank at the contractually agreed deadlines , which at the end of the suspension period, the bank extends the duration of the original amortization plan by 12 (twelve) months. The Agreement applies to Municipalities, Provinces and other local authorities wishing to join: metropolitan cities, mountain communities, unions of municipalities and consortia between local authorities. The Agreement provides that banks can apply more favorable measures for institutions. local than those provided for in the Agreement itself.
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