The plan provides for the subsidy of 60% of the installment in cases where the borrower is judged by the Insolvency Commissioner to be unable to meet his installments.
The duration of the subsidy will be for three years and the installment will be deposited directly with the Banks.
The maximum subsidy amount is 10 thousand euros.
The plan to be implemented must first be approved by the European Union Competition Commission.
Source: Liberal
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