We wish you a Merry Christmas

2020 has been marked by the extraordinary situation we are going through as a consequence of the Covid-19 pandemic. It has been a difficult year for everybody and Andorra has been no exception. The management of the crisis has been efficient and has always taken into account the size of the country, which has allowed for control, anticipation an prevention. Despite the setbacks, Andorra continues to be a great destination to live in, to visit, to shop and to do business.

The standardisation and transparency processes undergone by the country have stood out even more in the past months and have provided security and trust. This is why from the banking sector we have recently celebrated Andorra’s IMF membership. Thanks to its assistance in technical, statistical, budgetary and fiscal matters, this organization represents a step more towards the modernisation of our society.

The banking sector has proven its capacity of transformation, resilience and adaptation to tackle future challenges thanks to which, we can today say we are part of the solution to this crisis, especially from an economic recovery point of view.

Without a doubt, the Andorran banking sector has had and will continue to have a decisive role in the economic and social recovery of the country, with solvency at the forefront.

We take this opportunity to wish you a Merry Christmas and a speedy recovery for 2021.

Extension of the sector-wide moratoria agreement

Andorran Banks have reached an agreement to extend the sector wide moratoria agreement to March 31 2021. The first sector-wide moratoria agreement on loan repayments applied to businesses and families affected by the coronavirus crisis  was approved in June.  

The extension follows the one approved on December 2 by the European Banking Association.

The period of time for which payments on a certain loan can be suspended, postponed or reduced as a result of the application of general payment moratoria should not exceed an overall length of 9 months. This time limit will not apply for those applications prior September 30 2020 which will maintain the scheduled payment agreed.

The sector wide agreement complements the legislative moratoria approved by the Andorran Government.


Other economic measures

On December 4, Andorra’s parliament approved a new law on exceptional and urgent measures in the light of the health emergency caused by the SARS-CoV-2 pandemic. This law resumes the labour measures previously taken whilst adapting them to the new needs derived from the persistent emergency situation. Amongst them, the legislative moratoria is extended to June 30 2021.

On November 18, a new decree was approved to extend the soft loan programme in place with the aim of covering water, heating, electricity and phone supplies, as well as the financing of expenses related to the leasing of commercial spaces.

Furthermore, this new programme allows for the use of those amounts not used under previous soft loan programmes.

On December 2, another soft loan programme was approved aimed at leases and mortgage payments of gambling rooms.



Andorran Banking has donated 6,000 euros to the National Committee of Andorra for Unicef within the framework of the "Inspired Gifts, Life-Saving Gifts" campaign aimed at relieving the most urgent needs of vulnerable children around the world created by the Covid-19 pandemic.

 This campaign, in which Andorran Banking collaborates for the fifth year running, is aimed at buying protective material against Covid-19 and provide access to education for children around the world.

Càritas Andorra

Andorran Banking has donated 6,000 euros to Càritas Andorra care programme that will help out the most needed by improving their basic needs.

 This year marked by the Covid-19 pandemic, the care programme has been of the utmost importance in order to attend to the basic needs of members of the population who have lacked food, housing, health and clothing.

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