The Entrepreneurship Development Fund has signed agreements with JSC Oschadbank and PJSC CB PrivatBank on the implementation of the state program “Affordable Loans at 5-7-9%”, according to the Finance Ministry.
“On January 31, Oschadbank signed an agreement with the Entrepreneurship Development Fund to participate in the state program ‘Affordable Loans at 5-7-9%,” reads the report.
The same day the agreement with the Entrepreneurship Development Fund was signed by PrivatBank, the largest bank of Ukraine.
The Cabinet of Ministers approved the resolution to launch the program “Affordable Loans at 5-7-9%” from February 1. The state support program for micro and small businesses will allow participants to receive up to UAH 1.5 million of available credit at 5%, 7% or 9% for creating or expanding their own business. It is estimated that about 50,000 borrowers will be able to participate in this program in 2020, which will boost employment in Ukraine, develop innovative and efficient businesses, and thus expand the tax base and increase revenues to the state budget. (Ukrinform/Business World Magazine)
