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"Affordable Loans at 5-7-9%": Almost 24,100 available loans to the tune of UAH 63.6 billion were issued for the development of micro, small and medium-sized enterprises

Ministry of Finance of Ukraine, posted 27 September 2021 14:11

The state program "Affordable Loans at 5-7-9%" continues to develop – as this week’s progress within the program 439 loans totaling UAH 1.3 billion.

In total, since the start of "5-7-9%" program, representatives of micro, small and medium-sized enterprises (MSMEs) have received 24,114 loans from authorized banks to the tune of UAH 63.6 million.

Of those:

  • UAH 7.6 billion to investment purposes;
  • UAH 34.51 billion – as bailout loans;
  • UAH 21.43 billion – as refinancing of previously obtained loans.

One of the priorities of the Ministry of Finance is state support for the development of MSMEs, which is implemented, inter alia, thanks to the program "Available Loans at 5-7-9%" initiated by the President of Ukraine Volodymyr Zelenskyy. The draft State Budget-2022 provides for UAH 3 billion (including an Affordable Mortgage at 7%). This will allow providing support for the development of another 20,000 entrepreneurs.

The 5-7-9% program is executed by the Entrepreneurship Development Fund (EDF), which has currently concluded cooperation agreements with 38 banks on terms of compensation of interest on loans. The program also promotes the market of business lending services.

Besides, the State Program "Affordable Loans at 5-7-9%" is constantly supplemented with additional incentives. In September of this year, entrepreneurs of Lviv region, who made investments and created jobs under the Program, are completely exempt from paying interest due to the Joint Program of Lviv Regional State Administration and EDF.

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