Kredex, supplementary budget crisis measures extended until end of 2021

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KredEx logo. Source: Siim Lõvi /ERR

Using money from the 2020 supplementary budget and Kredex foundation crisis measures will be extended until the end of 2021, the government agreed on Thursday.

The government approved a draft allowing the use of the funds of the 2020 supplementary budget law left over from crisis measures, which have been carried over, until the end of 2021. It was also decided to extend until the end of the year the implementation of crisis measures by the Kredex foundation. 

For the same length of time, Kredex will be able to offer loans and underwritings to businesses on preferential terms under the temporary state aid framework, the government's communication office said.

In addition, the Ministry of Economic Affairs and Communications considers it necessary to leave unspent resources from the 2020 supplementary budget in the reserve for implementing new economic stimulus measures. More detailed proposals for the use of the funds left in the reserve will be submitted to the government in the second half of 2021.

Furthermore, it was decided that if the supplementary budget measure, the balance of which is intended to be used, has already been approved in advance by the government and is only intended to be extended, the minister responsible for the sector no longer has to approach the government for approval of the implementing regulation or management agreement.

However, if the balance of the remaining funds is to be used for other purposes, its use must be approved in advance by the government.

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Editor: Helen Wright

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