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Finance Ministry: During the matrial law within the frames of "Affordable Loans at 5-7-9%" program, entrepreneurs received 7,654 soft loans to the tune of UAH 28.29 billion

Ministry of Finance of Ukraine, posted 30 May 2022 12:38

Last week, 928 soft loans totaling UAH 3.9 billion were issued within the framework of the State Program "Affordable Loans at 5-7-9%".

Since the start of the Program, as of May 30, 2022, business entities have received 42,476 loans from authorized banks for a total amount of UAH 117.9 billion.

During the matrial law within the frames of "Affordable Loans at 5-7-9%" program, there have been concluded 7,654 credit agreements to the tune of UAH 28.29 billion (including by banks of the public sector – 6,042 loan agreements to the tune of UAH 16.7 billion), in particular:

- UAH 0.23 billion issued to entrepreneurs for investment purposes;

- UAH 3.26 billion as anti-crisis loans;

- UAH 2.07 billion as refinancing of previously received loans;

- UAH 17.08 billion - loans for agricultural producers, in particular for investment purposes;

- UAH 5.62 billion – for antimilitary purposes.

Under conditions of martial law, one of the priorities of the Ministry of Finance remains state support for business development, which is carried out, including through the program Affordable Loans at 5-7-9% initiated by the President of Ukraine Volodymyr Zelenskyy.

Thus, on April 29, the Government amended some regulations on the provision of state financial support to businesses. The relevant resolution was developed by the Ministry of Finance to create a unified approach to the application of government programs "Affordable Loans at 5-7-9%" and "Affordable Financial Leasing at 5-7-9%", as well as to expand the capabilities and the subject line of these programs.

Hence, in March this year to support agricultural producers in order to ensure the spring sowing campaign, as well as to support and intensify entrepreneurial activity during martial law, the Government has made a number of changes to the State Program Affordable Loans at 5-7-9%. The changes provide for significant simplifications for lending, in particular, the possibility of obtaining soft loans at 0% per annum with a guarantee from the Government of Ukraine at the level of 80%.

The Ministry of Finance calls on business representatives and banking institutions to actively participate in the implementation of innovations. 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.

To date, the EDF has concluded cooperation agreements with 42 banks under the State Program Affordable Loans at 5-7-9%.

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