‘More and more entrepreneurs are turning to banks and receiving concessional loans to develop their own alternative energy sources and gas-fired power generation. In early July, we expanded the Affordable Loans at 5-7-9% programme to allow businesses to use these funds to purchase energy equipment. And we can see that this mechanism is working and bringing real results.

Modernisation of the Government's soft loan programme allows us to allocate funds to meet the urgent needs of the economy, namely to improve the energy sustainability of businesses and households. In addition to entrepreneurs, citizens, condominiums and housing cooperatives can also take advantage of concessional lending for the purchase and installation of equipment for alternative energy generation and storage,’ said Deputy Minister of Economy of Ukraine Nadiia Bihun.

As part of the Affordable Loans at 5-7-9% programme for businesses to restore their energy capacities, Ukrgasbank supported a project to install a 50 kW solar power plant for a sole proprietor. He is engaged in retail trade and production of semi-finished products. The bank provided an investment concessional loan of over UAH 1 million at an interest rate of 1% for the first two years. The loan term is up to 5 years. The solar power plant will help maintain the production process.

‘One of the main priorities of Ukrgasbank is to provide maximum support to our customers, in particular in implementing energy-efficient solutions to overcome the energy deficit. Business must survive the energy crisis and we, as a bank, will make every effort to do so,’ said Tatyana Kornienko, Director of Small and Medium Business Department of Ukrgasbank.

As a reminder, the Cabinet of Ministers of Ukraine has expanded the scope of the Government programme ‘Affordable Loans at 5-7-9%’. Starting from 20 July, condominium associations and housing cooperatives will have an opportunity to purchase and install generating units that produce electricity from alternative sources, as well as electricity storage facilities and additional equipment. Loan terms: - loan amount of up to UAH 5 million for up to 5 years at 7% per annum. The programme will work in combination with the Green HOME programme. Under this programme, condominiums and housing cooperatives will have access to up to 70% of the project cost after its completion.

In order to take advantage of the Government's soft loan programme ‘Affordable Loans at 5-7-9%’, the management of a condominium or housing cooperative must apply to one of the 46 banks that cooperate with the Government under the ‘Affordable Loans at 5-7-9%’ programme and provide a package of necessary documents required by the bank.

For households, the Government has introduced 0% interest loans for the purchase of equipment and installation of renewable energy generating units and energy storage systems in their households. The Government will fully compensate the interest rate on such loans for 10 years. The loan amount can be up to UAH 480,000 for the purchase and installation of a hybrid power supply system.