First 5% loan to a Ukrainian defense company - Smetanin
Kyiv • UNN
A Ukrainian manufacturer of electronic warfare and electronic warfare equipment received a loan of UAH 100 million at 5% per annum for a year. The program of preferential lending for the defense industry has UAH 500 million in funding for the next year.
The manufacturer of electronic warfare and electronic warfare equipment received the first available loan of UAH 100 million for a 1-year term at 5% per annum. The rest of the interest will be paid by the state as part of the program of preferential lending for defense industry producers.
This was reported by the Minister of Strategic Industries of Ukraine Herman Smetanin, UNN reports.
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The government is constantly working to ease the conditions for Ukrainian arms manufacturers. It is important for us that companies have the resources to develop their production capabilities, upgrade equipment and improve products.
The Affordable Loans Program, which was launched this year, has UAH 500 million in funding for the next year.
Recall
The Cabinet of Ministers has approved the draft budget for 2025 with expenditures of UAH 3.7 trillion. UAH 54.55 billion has been allocated for the development of arms production, and another UAH 500 million for soft loans to defense companies.
