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Ministry of Finance: Ukrainian banks lend to business for energy supply measures under the State Program Affordable Loans at 5-7-9%

Ministry of Finance of Ukraine, posted 05 December 2022 13:53

National banks are actively lending investments to provide small businesses with alternative energy sources under the component to support entrepreneurs during martial law under the State Program Affordable Loans at 5-7-9%.

Lending of such investments is carried out at an interest rate of 0% per annum and will ensure the continuity of business activities in the conditions of the disturbed energy structure of Ukraine, thereby contributing to the preservation of jobs in small and medium-sized enterprises of Ukraine.

To date, under the State Program Affordable Loans at 5-7-9% the EDF has concluded cooperation agreements with 45 banks.

During the martial law in Ukraine, 16,336 loan agreements for a total amount of UAH 68.35 billion were concluded under the Affordable Loans at 5-7-9% State Program (including 12,448 loan agreements for a total amount of UAH 36.72 billion concluded by public sector banks):

  • UAH 31.73 billion – for anti-war purposes, including to ensure energy supply measures for businesses;
  • UAH 0.80 billion – for investment purposes;
  • UAH 5.72 billion – as anti-crisis loans;
  • UAH 4.32 billion – as refinancing of previously received loans;
  • UAH 25.75 billion – loans for agricultural producers.

Since the launch of the Affordable Loans at 5-7-9% State Program, business entities have received 51,158 loans from authorized banks for a total amount of UAH 157.97 billion, of which 32,924 – from public sector banks for a total amount of UAH 63.37 billion (as of 05.12.2022).

Over the past week, 374 soft loans totaling UAH 1.56 billion were issued under the Program, including 235 loan agreements worth UAH 0.71 billion concluded by public sector banks.

The program is implemented by the Entrepreneurship Development Fund (EDF). The only participant of the EDF is the Government of Ukraine represented by the Ministry of Finance of Ukraine, which coordinates all aspects of the Fund’s activities.

It shall be recalled that in order to prevent a decline in lending due to an increase in the NBU discount rate, as well as to facilitate the financing of agricultural producers for a complex of autumn field works in 2022, the Resolution of the Cabinet of Ministers of Ukraine dated July 29, 2022 No. 916 “On Amendments to the Resolutions of the Cabinet of Ministers of Ukraine dated January 24, 2020 No. 28 and July 14, 2021 No. 723” was adopted.

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