The Government has approved a Resolution to ensure the launch of the program "Affordable Loans at 5-7-9%" starting February 1st.
President Volodymyr Zelensky has signed a bill amending the Budget 2020, stipulating for the allocation of UAH 2 billion for the loan program to support micro and small businesses.
Today, by its decision, the Government has determined a mechanism to apply when using the budget funding within the framework of the activities of the Entrepreneurship Development Fund.
"This program is a great platform for entrepreneurs to start up a business in Ukraine - and these are new jobs already in 2020," said Prime Minister of Ukraine Oleksiy Honcharuk.
Next week, Ukraine's three major state-owned banks will join the program. The preparation process to trigger the affordable lending for entrepreneurs is underway following the schedule - since February it will be launched for small and micro-businesses.
The aforesaid state support program will provide an opportunity for the participants to receive up to UAH 1.5 million of available credit at 5, 7 or 9% for opening or expanding a business.
"It is worth noting that this program is one small puzzle of a large lending program that we are designing in synergy with the National Bank. Affordable loans should become a standard practice in Ukraine," Oleksiy Honcharuk added.