Yulia Svyrydenko: Government makes it easier for businesses in frontline areas to receive compensation for damaged or destroyed property

The Government has improved the mechanism for obtaining compensation for damaged or destroyed property owned by businesses operating in frontline areas, Prime Minister Yulia Svyrydenko announced.

“Businesses in frontline areas deserve special attention and support. They not only sustain the economies of these regions but also help preserve everyday life and employment for hundreds of thousands of Ukrainians living close to the front line. We will continue to develop and introduce tools to protect and support both ordinary people and Ukrainian businesses – those who truly need them,” Yulia Svyrydenko stressed.

Key changes include:

• Businesses will now need to submit only one application covering all damaged or destroyed property. They will no longer have to wait for information to be entered into the State Register of property damaged and destroyed as a result of hostilities before applying for compensation for production equipment and utility infrastructure.
• The deadline for applying for insurance premium compensation under the programme has been extended. Businesses that insured their property this year but did not join the programme will be able to apply to their insurer until 1 August.
• Requirements for insured property have been simplified, and the procedure for calculating compensation has been clarified, with compensation of up to UAH 3 million per year.

Since the beginning of the year, 139 applications from businesses operating in frontline areas have already been approved for participation in the programme. The total potential compensation amounts to UAH 2.67 billion. Under the insurance premium compensation component, businesses have submitted 63 applications to join the programme.