Today, on September 8, Minister of Finance of Ukraine Sergii Marchenko met in Kyiv with Luxembourg's Minister of the Economy and Minister for Development Cooperation and Humanitarian Affairs Franz Fayot.

The parties discussed the current economic situation in Ukraine, as well as priorities for further cooperation in the framework of economic recovery and reconstruction.

Sergii Marchenko welcomed Franz Fayot to Ukraine and thanked for the humanitarian support that Luxembourg is providing to Ukrainians since the start of the full-scale war.

The Minister of Economy of Luxembourg mentioned support for the development of small and medium-sized businesses in Ukraine by increasing access to lending and partnership in the field of financial technologies as priorities for cooperation. 

The Minister of Finance of Ukraine noted that the state program "Affordable Loans 5-7-9%" is currently one of the most effective tools to support business and offered to consider cooperation within the program: "5-7-9%" is constantly being modified to adapt to the challenges of war, which allows us to support business by creating opportunities for development. As part of this program, we cooperate with international financial organizations to increase access to finance for SMEs. We are also considering opportunities to further expand the program for the next year."

The total volume of "5-7-9%" lending for 2023 is expected to be about EUR 400 million. The share of lending under the 5-7-9% program currently reaches 90% of the total lending market in Ukraine. 

The parties also discussed Luxembourg's participation in the reconstruction of Ukraine and agreed to continue a constructive dialog for the speedy recovery of our country.