President signs laws to simplify loan repayment for IDPs

President Volodymyr Zelensky has signed government laws aimed at simplifying the terms of repayment of consumer loans for internally displaced persons and persons living in war-affected areas.

This was reported by MP Yaroslav Zhelezniak, according to Ukrinform.

"Two bills No. 9051 and No. 9052 have been signed on the introduction of mandatory restructuring of consumer loans for people from war-affected areas during martial law and 30 days after it," the report says.

In particular, draft law No.9051 on amendments to Chapter IV "Final and Transitional Provisions" of the Law of Ukraine "On Consumer Lending" regarding the peculiarities of charging interest on consumer loans during martial law proposes that during martial law and within 30 days after its termination, the mandatory restructuring of consumer loans be introduced for citizens who are registered as internally displaced persons, permanently reside in or have left the territory where hostilities are (were) taking place, or temporary occupied territories.

It is stipulated that within six months after the termination of martial law, consumers whose loans were restructured must repay loan interests.

As reported, in March 2022, the Verkhovna Rada of Ukraine approved amendments to the Tax Code, which exempted the creditor from the obligation to pay charges (fines, penalties) in connection with the late repayment.