The Government continues to support businesses through soft credit programs, Prime Minister Denys Shmyhal has said.
During a meeting, the Cabinet of Ministers has approved a resolution facilitating the attraction of up to UAH 60 million in preferential loans by enterprises that lost their production facilities due to the war.
“We are talking about facilities that were either destroyed, damaged or located in the occupied territories. This new program will allow some businesses to resume their work. The loan will be provided for investment purposes or for working capital financing. The state guarantees up to 80% of the body of the loan to the bank. The credit is granted for up to 5 years. A new or revamped enterprise cannot be placed closer than 50 kilometers to the frontline,” said the Prime Minister.
The Head of Government also added that during the period of martial law in Ukraine, within the framework of the State Program Affordable Loans at 5-7-9%, loans for UAH 54 billion were issued to more than 13,500 businesses.
“We know that there are dozens and hundreds of businesses in Ukraine that are ready to restart work, invest their own funds, return employees, but they required additional support from the state. We will now provide such support,” Denys Shmyhal emphasized.
In addition, according to the Prime Minister, the state has become one of the main customers, including for the private sector. More than 3,000 enterprises are currently working for the mobilization needs of the economy. These enterprises, institutions, and organizations provide for the needs of the Armed Forces of Ukraine, military formations and critical areas of the front and rear. (Government portal/Business World Magazine)
