Given the annual lending to entrepreneurs amounts at least UAH 400 billion, it will be possible to ensure an 8-9% growth in Ukraine's economy. This was stated by the Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko on air of "Svoboda Slova" (Freedom of Speech) on ICTV.
"No country has come up with the idea of living without banks and without lending. Therefore, mass access to finance is one of the effective mechanisms of economic development. But instead of loans at 20% interest and for certain sectors, every Ukrainian entrepreneur should have access to this financing. The Ukrainian system must issue loans to entrepreneurs to the tune of at least UAH 400 billion a year in order to ensure an 8% economic growth," Ihor Petrashko said.
According to him, negotiations are underway with international partners to establish a special fund, where the state will give 50%, and the multiplier effect will allow for a fourfold increase in lending.
In addition, Ihor Petrashko stressed that an updated lending program "5-7-9%" had already been launched, thus allowing for refinancing loans at 0% during the year. The size of the loan portfolio under this program makes up UAH 35 billion.
Apart from that, in the near future, there will be implemented the New Money program, which will allow micro and small entrepreneurs to attract new money at 3% interest for 2 years.
"All our programs, which we are doing as the Ministry of Economy and which are supported by the Government, are comprehensive. We oppose any individual programs because they do not yield a result," the Minister added.