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BDO Law provides an opinion to the European Investment Bank on the legal aspects of an 80-million-euro credit agreement

15 July 2020

On March 19, 2020, the Cabinet of Ministers adopted special regulations on working capital loans to economic operators affected by the spread of Covid-19, establishing a procedure by which the state provides financial support to the economy to overcome the consequences of the Covid-19 economic crisis.

The allocation of state funding is organised by the joint-stock company "Development Financial Institution Altum", which in turn has concluded periodic financing agreements with the European Investment Bank.

On behalf of the European Investment Bank, BDO Law analysed the terms of the 80-million-euro financing agreement, providing its conclusions on the legality of the agreement, the impact of national and international rules on the terms of the agreement and the settlement aspects of the parties.