The Prime Minister of Ukraine Denys Shmyhal commissioned the Ministry of Finance to speed up the procedure of re-considering by the parliamentary committees and return to the Verkhovna Rada session the bills on expanding state guarantees for soft loans to small and medium-sized businesses.

Denys Shmyhal voiced the relevant commission during a meeting of the Cabinet of Ministers of Ukraine on July 15.

The Head of Government reminded that this week two important bills of the Government had been introduced in the Verkhovna Rada, "those designed to facilitate the process of obtaining soft loans for small and medium-sized businesses by expanding state guarantees." According to the PM, these bills provided that the amount under the program would be up to UAH 5 billion.

"In practice, this means that before the state had guaranteed from 30 to 50% of the loan amount under affordable credit programs. Now this showing will shift to 80%. This will imply that the state guarantees up to 80% of the body of the loan to the bank. This is a significant improvement in the issue of cheap and affordable loans. And this is what all successful economies in the West and East are doing to support their SMEs. In fact, these are thousands of potential loans for small and medium-sized businesses on very favorable terms," the Head of Government stressed.

Denys Shmyhal also thanked those parliamentarians who had supported the work of the Government. "I will also ask the Ministry of Finance to speed up the re-approval of these bills within the Committee and return them to the Parliament hall. It is of topmost importance to return the bills to the session hall of the Parliament as soon as possible, as Ukrainian business are looking forwards to its approval," Denys Shmyhal said.