Information about certain measures taken by governments in the Kinstellar jurisdictions in relation to the COVID-19 situation This table reflects the situation on 3 April 2020 South Eastern Europe

Bulgaria Romania Serbia Turkey

1. Travel Restrictions

1.1 Incoming Closed borders for foreigners Not allowed to fly from Spain, Italy, State of emergency in place – Land borders closed with from third countries and the France and Germany to Romania. entry prohibited to all foreign Bulgaria, Greece, Iran, Georgia, following EU Member States and Mandatory self-isolation at home citizens with the exception of Azerbaijan and Iraq. members of the Schengen area: or quarantine, as the case may diplomats accredited in Serbia, Passenger sea crossings Italy, Spain, France, United be, for all persons entering foreigners with residence between Greece and Turkey are Kingdom and Northern Ireland, Romania. permits, crew of cargo vehicles, also closed. Germany, Switzerland and the cargo ships and airplanes, crew Prohibition of foreign citizens and Netherlands. Mandatory of trains entering border stateless persons to enter quarantine for Bulgarian citizens stations, persons provided by a Romania, with several exceptions. arriving from the mentioned special permit of the Serbian Member States, as well as Iran, Government and persons Bangladesh, India, Maldives, escorting humanitarian convoys. South Korea, Nepal, Sri Lanka, All Serbian citizens entering China. Serbia are subjected to the 28- day mandatory quarantine.

1.2 Outgoing All training and business trips are No flights allowed to Spain, Italy, Medical staff is advised to avoid All international flights are prohibited. France and Germany. travelling to main COVID suspended. Traveling outside Bulgaria is not affected areas. prohibited, but the government Majority of border crossings with advises citizens to withhold neighbouring countries are traveling to the above-mentioned closed. countries, unless necessary.

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Bulgaria Romania Serbia Turkey Citizens who decide to travel outside Bulgaria must conclude health insurance.

2. Other Restrictions

2.1 Free Restricted to going to work, Limitation and prohibition of Curfew for all citizens except Citizens at the age of 65 and Movement visiting grocery shops, movement of persons outside limited categories (e.g. police, older (except government officials pharmacies, banks and insurance their house, except for urgent authorised night shift staff) from and healthcare personnel) and offices. matters, such as food supply, 5 pm until 5 am on working who have low immune system Travelling to and from district work, medical issues etc., days, and from 1pm on Saturday and chronic lung disease, asthma, cities is made via checkpoints and urgency that needs to be until 5am on Monday. Senior COPD, cardiovascular disease, is allowed only in respect of confirmed by an affidavit/employer citizens (i.e. 65ys+ and 70ys+ in kidney, hypertension and liver commuting to work, going home certificate (measure applicable villages up to 5,000 inhabitants) disease and those who use or due to medical reasons (all to 24/7); Stricter measures for are prohibited to leave their medicine that disrupt the immune be evidenced by respective persons older than 65 years. homes at all times, although it system are not allowed outside documents). Pedestrian traffic outside the appears that they will be allowed and if they violate so, an in due course to go to selected administrative fine shall be The city of Bansko and separate house should observe the general supermarkets for few hours very applied. The rest of the citizens neighborhoods in a few cities are requirements and avoid forming early on Sundays, i.e. between are encouraged to stay inside. in full mandatory quarantine with any group of persons (more than 3am and 8am on Saturday. prohibition for entering and 3 persons not living together). A mandatory quarantine for 14 leaving. Gradual prohibition of road, rail, days is applied to the citizens who maritime, river or air traffic on came from abroad. different routes and the subway; All public transportation vehicles Prohibited access of maritime and will temporarily accept 50% of the fluvio-maritime vessels on ports passenger carrying capacity located in the maritime Danube, stated in their license and until the 14-day quarantine period distanced seating will be from the last port of call located in provided. a red/yellow area has passed.

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Bulgaria Romania Serbia Turkey When entering Romania, drivers No internal travels (including bus, of freight vehicles with maximum flights, personal vehicles) are authorized capacity of more than allowed without a Travel Permit 2.4 tonnes, aircraft pilots and the Document which shall be navigating personnel should obtained from the governorship. choose a method of Taxis with licence plates ending quarantine/isolation, but not more with odd and even numbers will than 14 days, during the period be in service on a rotating basis between rides/flights. each day in Istanbul, Ankara and Since 31 March 2020, the north- İzmir provinces. eastern Romanian city Suceava (together with another eight communes located in the surrounding area) were placed under quarantine. Flights, train connections and public transport routes to this area are suspended. During this period, only (i) transportation of goods and (ii) movement of persons undertaking economic, defence or public administration activities are allowed.

2.2 Closures As of 13 March 2020, all public Closure of schools/universities, No public gatherings in open All public places such as schools, (public places, places such as schools, hotels/restaurants/ coffeeshops, spaces are allowed. Also, all universities, education services, shops etc.) universities, kindergartens, museums, clubs, casinos, indoor gatherings prohibited restaurants, sports, entertainment shopping centres, restaurants, shopping centres, dental offices. unless they are of special places, theatres, cinemas etc. and night clubs, etc. are closed. Suspension of cultural, scientific, importance for the work of state retail facilities closed with the Exception is made for food stores, artistic, religious, sports, bodies or services. exception of groceries, pharmacies, bank and insurance entertainment or gambling, spa

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Bulgaria Romania Serbia Turkey offices. Prohibition of eating food treatment and personal care Schools, kindergartens, pharmacies and selected vital at dining areas and stores of gas activities, held in confined spaces. universities, restaurants, cafes, supplies and services. stations has been introduced. shopping malls, personal care The highest number of customers Prohibition of all public events, activities, casinos, theatres and in the supermarkets will be one gatherings and activities has been gyms have been closed. tenth of the total area served introduced. Prohibition of visits to Grocery stores, pharmacies, directly to the customer and the public parks, gardens and banks, post offices are open, but working hours of the playgrounds. their working hours are supermarkets are shortened. shortened. Many banks changed their Public transport of passengers is opening and closing hours of their prohibited, with the exception of branches as 12:00-17:00 taxis and limo services. All meetings or events (scientific, Religious communities are cultural, artistic etc.) which will be advised to perform their rituals organized in open or closed areas without presence of their at national and international level members. are postponed until the end of April.

3. Measures affecting certain industry sectors

3.1 Any No restrictions except for certain No restrictions except for certain Certain types of goods cannot Export restrictions on protective general import/ types of medical products (see types of medical products and be exported, e.g. sunflower oil, equipment (masks, gloves etc.) export 3.4 below). biocidal products (see 3.4 below). yeast, flour, soap, diapers, and ventilator machines. restrictions alcohol, medical protective gear, and medicines.

3.2 All premises falling in the scope of During the state of emergency, No measures yet in place. The Directorate General of Land Commercial the adopted restriction for visits small and medium enterprises and Cadastre will not take any landlords/ (see 2.2 above). that have partially or completely requests other than sale, tenant ceased their activities as a direct mortgage and title deed order of the public authorities and

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Bulgaria Romania Serbia Turkey which hold emergency state transactions without citizen certificates issued by the Ministry requests until 04.05.2020. of Economy, Energy and Business Environment benefit from a deferral from payment of rent for premises used as a registered office or secondary offices.

3.3 Banks During the state of emergency no The Romanian Government have Loan and leasing repayment The 90-day delay period that default interest and penalties will recently enacted loan moratorium moratorium in place for 90 days causes the loans to be classified be due on late payments. Other measures that allow bank debtors and/or not less than the duration as non-performing loans shall be non-monetary consequences of (whose financial situation was of the state of emergency. extended up to 180 days for First delayed payments such as directly or indirectly hit by the and Second Group loans until acceleration or appropriation are coronavirus pandemic) to 31.12.2020. also suspended. The Bulgarian reschedule the repayment of their For the loans that continue to be National Bank has adopted loans and get a grace period of up classified in the Second Group measures for supporting the to 9 (nine) months. despite the 90-days delay, banks liquidity of the bank system, The debt rescheduling facility is can continue to set aside their including mandatory capitalisation available for both natural and own risk models in calculating the of the profit for 2019 (i.e. no legal persons provided that expected credit loss within the distribution of dividends) and certain requirements are fulfilled. scope of Financial Reporting reduction of foreign exposures or The interest on the debt Standards of Turkey and there will the commercial banks. accumulated over the grace be no additional provisioning period is capitalised - except for obligations. the mortgage loans of the natural Loans that are classified as persons, where the accumulated receivables due to restructuring interest is set up as another loan, and whose principal / interest guaranteed by the state, with 0% payments are delayed more than interest rate, payable in equal 30 days within one year of instalments over a 60-month monitoring period or are restricted period. once more during this monitoring

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Bulgaria Romania Serbia Turkey period shall not have to be classified in the third group. The 90-day delay specified in the article stipulating a special provision of 20% of the receivables is 180 days for leasing and factoring companies; for financial leasing companies, it shall be increased to 240 days, Maximum interest rate implemented in the credit card transactions has decreased effective from April 1, 2020. Minimum payment amount has decreased to 20% effective from April 1, 2020. Reporting liabilities of the banks have relaxed in order to provide flexibility for banks to meet minimum ratios regarding liquidity levels. In case the minimum amount in the credit card is not paid within three months of the due date, the card issuers may define grace periods through not requesting their receivables, including minimum amount, from the credit

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Bulgaria Romania Serbia Turkey card holders until December 31, 2020.

3.4 Pharma During the state of emergency, Prohibition of export of medical Export of medicines from Serbia Surgical masks such as N95, and medical the parallel export of medicinal devices and sanitary materials is prohibited, with the exception FFP2 and FFP3 have been using devices products, export of quinine-based that ensure the prevention and of medicines owned by foreign by the health personnel who medicines is prohibited. treatment of COVID-19 persons which are shipped works in risky areas are only be Prohibition on the export of associated diseases/ drugs for through Serbian territory and provided in the pharmacies in available protective gear and distribution outside the territory of medicines manufactured by return for a prescription. disinfectants. Romania. Serbian manufacturers which do The customs duty on the import of not have marketing authorization ethyl alcohol used in the in Serbia. production of cologne and During the state of emergency, it disinfectants and additional is possible to market and apply customs duties used in medical medical devices which have not masks and respirators have been been manufactured in set to zero. accordance with applicable standards, if a distributor: ▪ delivers one copy of description of technical characteristics and user manual, translated to Serbian; ▪ provides a statement that the medical device in question is efficient as devices manufactured in accordance with manufacturing standards;

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Bulgaria Romania Serbia Turkey ▪ provides a statement that it will provide training for medical professionals that will use such device; ▪ provides a commitment that it will provide spare parts and services for a certain period.

3.5 Other Only as described above - leisure Prohibition to export (i) raw Law on Amendments of Certain industry due to mandatory materials used in the manufacture Laws has been approved and shutdown. Aviation sector due to of TP1 and TP2 biocidal products published in the Official Gazette restriction of international travel. and (ii) TP1 and TP2 biocidal on March 26, 2020. Under the Public sector due to suspension products. Law, the following measures will of work of administration, courts, be provided: public enforcement agents etc. (i) all judicial and administrative periods have been suspended as of April 30, 2020; (ii) all enforcement and bankruptcy proceedings (excluding those related to child support payment) are suspended until the end of April; (iii) a minimum wage support will be provided to the employees who lost their jobs; (iv) Lessors will not be able to terminate leases or commence eviction processes

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Bulgaria Romania Serbia Turkey in relation to workplace tenancies for failure to pay rent during the period between 1 March 2020 and 30 June 2020; (v) for the part-time, on-call and hourly working employees who work for 20 days or less in a month, the condition of the general health insurance premiums pertaining to the missing days to be completed to 30 days has been changed to apply to such employees who work for 8 days or less in a month; and (vi) in case the delayed payment of check debts is paid or restructured until 31 December 2020, it will not be considered by credit institutions and financial institutions. Working hours and flexible working opportunities will be re- organized in private sector. All court hearings have postponed until April 30, 2020. The Governorship of İstanbul has decided to suspend all ferryboat

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Bulgaria Romania Serbia Turkey and sea bus services (passenger transportations). Vehicle inspection periods are extended for 3 months with regard to the vehicles of whose inspection period has been expired.

4. Subsidies and financial support available from governmental side

4.1 General for The approved Law on measures The Romanian state pays the Some draft measures ▪ Postponement in loans for min. businesses and actions during the state of indemnity for technical considered by the Government. 3 months for companies with and employers emergency introduces provision unemployment, within the limit of disrupted that cash flow of subsidy for payment of 75% of the gross salary ▪ Stock financing support for remunerations in the amount of corresponding to the occupied job Exporters. 60 per cent of the employees’ position, but not more than 75% ▪ Tax statements re. deductions remuneration that will apply to of the national gross average at source (e.g. Withholding) will certain employers meeting criteria salary (employees whose be postponed for 3 months. to be determined by the individual employment government. The law also agreements are suspended due Temporary income support (via provides for simplified procedure to temporary Short-time Working Allowance for granting support from interruption/reduction of employer given to employer) will be European funds. activity during the emergency provided to workers in workplaces that halted their activities. BGN 500 million have been state). provided to the Bulgarian Other professionals as defined by Three public banks postpone the Development Bank which will be the Romanian Civil Code will loan debts and provide extra used in support of SMEs in benefit of an indemnity of 75% of loans for the employers in order to difficulty due to COVID-19 either the national gross average salary. provide for paying the salaries of the employees and these banks through equity investment (with Increase the limits for will provide “Stay in Business buy-back option) or through guaranteeing loans for SMEs, Support Loans” to all companies guarantees to commercial banks through the National Credit

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Bulgaria Romania Serbia Turkey that will provide cheaper Guarantee Fund for SMEs, with in all sectors for their operational financing. RON 5 billion in a first phase. capital needs. The Romanian state will subsidize The deadline for the declarations 100% of the interest on regarding Annual Income Tax, guaranteed loans to SMEs withholding tax, VAT, Form “Ba- starting from the moment the loan Bs” notifications and creating and is granted until 31 March 2021 signing e-Books and “Electronic and afterwards only if certain Book Licences” have postponed conditions are met. until 30 April 2020. SMEs obtaining the Emergency Withholding tax, VAT, Form Ba-Bs Situation Certificate are entitled to and e-Books are postponed for defer the payment of the utility six months for several sectors that services and the payment of the affected most due to the outbreak rent for the premises that and for taxpayers that fall under represent their main or secondary the scope of the mandatory registered offices. This facility is lockdown requirement. also applicable to other categories As per the Presidential Circular directly affected by the COVID-19 numbered 31087 and dated pandemic (e.g. lawyers). 02.04.2020, the obligations of the SMEs holding the Emergency government contractors under Situation Certificate are entitled to Public Procurement Contracts invoke the force majeure in Law can be suspended relation with their other ongoing temporarily or permanently, agreements, if such companies partially or completely, upon their prove (based on supporting request and provided that it is documents or by any mean, proven that fulfilment of their including electronic means) their obligation became impossible due attempt to renegotiate such to the COVID-19 outbreak. agreements so that to be adapted As a result of the assessment of in accordance with the the relevant administrative body,

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Bulgaria Romania Serbia Turkey exceptional conditions caused by the period may be extended or the state of emergency. the agreement may be terminated. Maximum investment and business loan cap limit extended from TL300,000 to TL 3 million for SMEs.

4.2 To specific Special measures adopted by the During the emergency state the Some sectors may be given ▪ April, May and June 2020 VAT, sectors Bulgarian National Bank for the prices for electricity and heat, special support (e.g. hospitality). withholdings and social security normal functioning of the bank natural gas, water supply, premium payments postponed system (see 3.3 above). Public sanitation and fuels were capped. for 6 months in Retail, Shopping discussions on adopting financial Mall, Iron and Steel, measures for the health care Automotive, Logistics, sector. Simplified procurement Transportation, Cinema and procedure have been adopted for Theatre, Accommodation, this purpose. Catering, Textile and Garment and Event-Organization sectors. ▪ The VAT rate will be decreased from 18 percent to 1 percent in domestic air transportation for 3 months. Accommodation Tax (City Tax) for hotels will not be until November.

4.3 To Public discussions are being held. Days off for parents caring for ▪ Remote work or flexible work employees children due to school closures - opportunities may be provided and individuals one of the parents is entitled to to the employees in public days off from work in the event sector provided that a minimum that schools are closed. These number of employees are employees will benefit of an working.

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Bulgaria Romania Serbia Turkey allowance of 75% of their salary ▪ Social credit packages with low for a working day, without interest rates. exceeding 75% of the gross ▪ Min. down payment for average salary. The allowance for mortgages will be lowered to each day of leave is paid by the 10% from 20%. employer and re-reimbursed by Continue of min wage support. the State-controlled Guarantee Fund for Unpaid Salaries. TL 1,000 will be provided for each of the individuals who need financial support. Certain municipalities and organizations also provide food and fundamental needs of such individuals. The needs of the citizens at the age of 65 or older will be provided by the Social Support Groups. President of the Republic of Turkey and some municipalities have started a financial aid campaign. The conditions for the payments subjected to the Residence Account and State Aid Regulation have been eased.

5. Measures taken by central banks

5.1 Steps No default interest or penalty shall The National Bank of Romania No charging of interest while N/A taken with be due for late payments during decided the following: loan repayment moratorium is in regard to the state of emergency. place.

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Bulgaria Romania Serbia Turkey interest rate ▪ to cut the monetary policy rate (most recent by 0.50 percentage points, and expected) from 2.5 percent to 2.0 percent starting 23 March 2020; ▪ to narrow the symmetrical corridor defined by interest rates on standing facilities around the monetary policy rate to ±0.5 percentage points from ±1.0 percentage points. Thus, starting 23 March 2020, the deposit facility rate stays at 1.50 percent, while the lending (Lombard) facility rate is lowered to 2.50 percent from 3.50 percent. Against this background, the main ROBOR rates are expected to witness a significant downward adjustment.

5.2 Steps No steps taken so far: the No measures yet. Turkish lira currency swap taken or Bulgarian National Bank declared auctions, with a maturity of 1 year, expected with that it will apply measures (not which depends on quantity regard to local specified) for ensuring the normal auction method will be conducted currency functioning of the currency board and the banks will be provided and to adopt additional if with Turkish lira liquidity against necessary. US dollars, euros and gold.

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Bulgaria Romania Serbia Turkey

5.3 Use of The action plan does not provide The National Bank of Romania The companies may apply to foreign such measures at the current declared that it stands ready to intermediary banks and exchange currency moment. proceed to cutting the minimum their current bills for a bill with an reserves reserve requirement ratios on leu up-to- 90-day-longer maturity, - and foreign currency - without making any repayment. denominated liabilities of credit FX reserve requirement ratios institutions, if necessary. may be decreased by 500 basis points in all liability types and maturity brackets for the banks of which the real credit growth conditions are met.

5.4 Other No other steps. Other measures taken by the The banks will be provided with important National Bank of Romania: as much liquidity as they need steps ▪ to provide liquidity to credit within standing facilities. institutions via repo transactions (repurchase transactions in government securities) with a view to ensuring the smooth functioning of money market and of other financial market segments; ▪ to purchase leu-denominated government securities on the secondary market with a view to consolidating structural liquidity in the banking system that should contribute to the

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Bulgaria Romania Serbia Turkey smooth financing of real economy and the public sector.

6. Other

6.1 Bulgarian National Bank Romanian National Bank The Government of the Republic https://www.tccb.gov.tr/en/ Trustworthy (http://www.bnb.bg/?toLang=_EN) (https://www.bnr.ro/Home.aspx) of Serbia https://www.saglik.gov.tr/Genel/M English Ministry of Foreign Affairs (https://www.srbija.gov.rs/) ansetHaberList.aspx language (https://www.mfa.bg/en/) https://www.tcmb.gov.tr/wps/wcm/ sources connect/en/tcmb+en

6.2 Other All employers are obliged to During the state of emergency, All employers are obliged to Government offices are obliged to facilitate work from home for all the statute of limitation and the facilitate work from home for all facilitate work from home where employees for whose work places lapse terms are frozen, or employees for whose work possible while maintaining the such work can be organised. suspended if such deadlines places such work can be continuity of the services. Employers have several other started to lapse. organized. For government officials who are options: (i) to discontinue the work Measures regarding the All schools, universities and not suitable for working from operation of the undertaking or a judgement of civil cases: kindergartens are closed down home will be considered on paid part thereof; (ii) to introduce ▪ the activity of the national (long-distance learning in place). leave. reduced working hours; (iii) to courts is generally Long distance learning is in place send employees on up to one half suspended, but it continues in for education. of their annual paid leave. cases of special urgency; All procedural deadlines in the ▪ foreclosure proceedings court, arbitration and enforcement continue only in cases where proceedings, as well as limitation it is possible to comply with periods and deadlines for the sanitary discipline rules; implementation of instructions given by administrative ▪ deadlines for exercising authorities, have been appeals in cases that are not suspended. of special urgency and which are in progress at the date of

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Bulgaria Romania Serbia Turkey Certain tax deadlines have been the establishment of the state extended. Notary proceedings are of emergency are interrupted. limited to urgent cases

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