As per data from the Bank of Israel, the volume of frozen loans decreased from 100 billion shekels in January 2024 to 63 billion shekels in February and 54.6 billion shekels in March. Despite this, efforts are being made to encourage Israelis to resume payments on their frozen loans to support the economy.
Israelis have resumed payments on 45% of the loans that were initially frozen due to the war, with most of them being commercial loans. The majority of the remaining frozen loans are mortgages, totaling 39.3 billion shekels, which is 6.7% of all mortgage loans. Additionally, 2.7 billion shekels of consumer loans and 7.3 billion shekels of small business commercial loans are still frozen.
The loan freeze program has been extended twice and is currently in effect until June. With improvements in the situation, more loans are expected to be unfrozen in the coming months, providing further relief to borrowers. In the meantime, various services and resources are available to assist individuals and businesses in managing their financial obligations during this challenging period. It is recommended that borrowers stay informed about updates related to the loan freeze program and take advantage of any support that may be available to them.
In conclusion, despite a decrease in the volume of frozen loans over time, efforts continue to encourage Israelis to resume payments on their frozen loans in order to support the economy during this challenging period. Borrowers should stay informed about updates related to the loan freeze program and take advantage of any resources available for managing their financial obligations during these uncertain times.
