• Українською
  • Gov’t has doubled the limit of state aid for business under the "5-7-9" program, says Ihor Petrashko
    Ministry of Economic Development, Trade and Agriculture of Ukraine, posted 24 February 2021 15:54

    The Government has once again improved the "Affordable Loans at 5-7-9%" program, increasing the maximum allowable state aid from EUR 200,000 to EUR 400,000 for the quarantine period and for six months after its abolition.

    This decision was made today, February 24, at a regular meeting of the Cabinet of Ministers of Ukraine.

    "We are constantly in dialogue with business, we hear their requests and try to respond quickly. We are well aware that some companies could not use the "5-7-9" program, because before that they could use a EUR 200,000 limit under other programs. Another improvement, namely doubling this limit to EUR 400,000, will significantly expand the range of state aid recipients and the timing of using the support, and we want businesses to have even greater access to long-term resources, to invest in their development and the development of our state", commented on the changes the Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko.

    Thus, today's decision will unblock the problem faced by, for example, agrarians, who, in addition to "5-7-9", are active users of certain government programs on support of the agro-industrial complex. Also, the new improvement will be useful for medium-sized businesses, which using large amounts of credit, could count on their effect only for a certain period (with a maximum loan of UAH 50 million, the term of use is up to about 2 years). From now on, medium-sized businesses will be able to use loans for a longer period of the program, thus planning their activities, their investments, for a longer period.

    It is also worth noting that the increase in the limit up to EUR 400,000 does not contradict our obligations to the EU.

    As a reminder since the start of the program, participating banks have issued 8,916 loans totaling UAH 21.4 billion.