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The 25m-euro fund that the government will make available as state guarantees to businesses that wholesale show basic basket products.
According to the decision approved at the last meeting of the Council of Ministers, the guarantee line of 3 billion ALL will serve as an aid for businesses that are obliged to have sufficient reserves of food products for a period of 3 months.
Business lending will be provided by four commercial second level banks and the approval of business loan applications will be approved in a shorter time than for a normal loan due to the emerging market situation. However, in the decision there are no details on the criteria that must be met by the entities and how the risk will be shared between the bank and businesses.
This measure follows the establishment of transparency boards after the strong increase in fuel and basket goods prices, especially since the war in Ukraine, as well as the abuses found in the market.
Currently, the price transparency board of basket products sets the ceiling prices for four basic products, flour, rice, sugar and oil, where the latter costs significantly more expensive and is sold for 381 ALL per liter.
However, both the transparency board for basket products and the one for fuels, with the aim of limiting price increases, with their decisions continue to be subject to fluctuations in stock exchanges and international markets.
Since the pandemic, Finance has applied several state guarantee schemes such as that for large corporate salaries, the liquidity guarantee and then this line of guarantees for businesses that wholesale basic products.
According to the normative act of the government for these guarantee schemes, the Ministry of Finance is preparing the legal changes to have them as a permanent financing instrument.
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