Previously: Affected businesses had to navigate the standard insolvency, credit, and commercial obligations framework without any consideration for the emergency situation. There was no special mechanism to alleviate financial burdens, reschedule obligations, or quickly access emergency financing.
Now: The decree temporarily establishes or authorizes special mechanisms that may include: relief on debt service obligations to financial institutions and entities in the real sector; priority access to rediscount credit lines through Bancóldex and development agencies; more flexible requirements for accessing business support instruments; the establishment of simplified mechanisms for restructuring or agreements between debtors and creditors; and support for the operational continuity of production units in affected areas
