Ecopetrol offers relief to small and medium local providers to face the covid-19

This Ecopetrol release was published using machine translation.

Ecopetrol launched a mechanism to alleviate the financial situation of nearly 1,508 suppliers of local goods and services, classified as micro, small and medium-sized companies that provide their services to the company in different regions of the country.

This is the advance or 'early payment' without discount for about $ 60,000 million per month, which will allow these companies to preserve their economic activities, leverage their cash flow, maintain employment and mitigate the impact of the covid-19 pandemic.

The figure of 'prompt payment' was launched after a detailed analysis by Ecopetrol and the application of economic, financial and billing regulatory criteria for each of the selected companies.

The measure was implemented from April 23 and will remain in effect until June 8. To date, advances have been made for the payment of 3,876 invoices for $ 21,801 million in April and $ 48,698 million for May, which benefit 471 local small and medium entrepreneurs.

The initiative guarantees resources to small and medium-sized local providers that provide their services in the health and general maintenance sectors in the departments of Santander, Norte de Santander, Arauca, Vichada, Casanare, Meta and Putumayo.

The companies selected in this relief plan have provided their services or delivered the contractually agreed assets to their satisfaction, and their invoices were filed in accordance with the current regulations of Ecopetrol.

The company continues to support the development of the regions where it operates in the midst of the current situation due to the covid-19 pandemic and invites communities to continue complying with preventive measures to prevent the spread of the virus.