On 30 April, the Cabinet of Ministers of Ukraine adopted a resolution to improve financial support for Ukrainian businesses. The changes are aimed at improving the efficiency of state guarantees provided on a portfolio basis.

The term of the state guarantees will be extended to ten years for loans taken for the purpose of rebuilding fixed assets destroyed partially or completely as a result of military aggression, and to five years for all other categories of loans, which in turn extends the term of contracts for agricultural producers under previously provided guarantees.

Also, since the adoption of the act, it has become possible for business entities operating in the processing industry (the main Classification of Types of Economic Activity) to obtain loans under state guarantees for all codes under Section C of the National Classifier of Ukraine.

The innovations will help support micro, small and/or medium-sized businesses that are residents of Ukraine in the difficult conditions of martial law and will have a positive impact on the implementation of long-term investment projects and working capital needs. This will help stabilise the economic situation and support national production on the path to sustainable recovery.