• Українською
  • Active business lending by banks will stimulate economic development and strengthen the country’s defence capability: Yuliia Svyrydenko
    Ministry of Economy of Ukraine, posted 15 December 2023 09:37

    Reconstruction of destroyed housing, incentives for banks to participate in government programmes and active lending to small and medium-sized enterprises, increasing trust in government institutions and the banking sector – these and other issues were discussed by First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko with representatives of Ukrainian and international banks on 14 December. The event was also attended by Deputy Minister of Economy Nadiya Bihun, Deputy Minister of Finance for European Integration Yuriy Draganchuk and Chairman of the Board of the Ukrainian Financial Housing Company Yevhen Metzger.

    “When creating government programmes, we try to encourage banks to participate as much as possible. By cooperating with the state, banks receive market income, a reliable borrower and avoid excessive risks. At the same time, we observe low activity due to the risks of war, so an important task of the Government is to encourage banks to provide wider support to businesses through lending, including under the Government’s eOselia and 5-7-9% programmes,” said Yuliia Svyrydenko.

    “The issue of rebuilding the destroyed housing stock and providing people with their own homes is one of the Government’s priorities and a key factor in the return to Ukraine of citizens who have moved abroad. Attracting investment in the development of the construction industry, especially in the primary market, will have a multiplier effect on the Ukrainian economy. The support of the Government’s eOselia programme by a wide range of banks will increase the number of mortgage loans issued, which will stimulate the housing industry, create new jobs and pay taxes to the state budget.

    “We always take into account the economic interests of our partner banks and their role in the country’s economic development. The Government is ready to listen to any proposal, to engage in dialogue and to share risks. In the current reality of war, we must understand that our security and defence are provided by corporate taxes. Wide access to financing for businesses and active lending by banks is our challenge today. The 5-7-9% programme will be modernised with a focus on areas of maximum growth,” emphasised Yuliia Svyrydenko.

    In particular, the processing industry, the military-industrial complex, energy efficiency, humanitarian demining, the development of Ukrainian production and the restoration of economic activity in the de-occupied territories are among the state’s priorities. The proposals developed during the event will be used to formulate systemic solutions for the effective development of economic sectors.