The Government owes banks UAH 10 million in compensation for the “5-7-9” program
Kyiv • UNN
The budget of the state program “Affordable Loans 5-7-9%” was exhausted in October. Out of 11 banks participating in the program, only 3 are actively lending, and the total amount of loans disbursed amounted to UAH 69 billion.
In October, the budget of the state program “Affordable Loans 5-7-9%” was completely exhausted, and the government's debt to banks for interest compensation may reach UAH 10 billion by the end of the year.
Writes UNN with reference to the NBU's financial stability report.
In October, the annual budget of the state program to support lending, Affordable Loans 5-7-9%, was exhausted. During the year, the loan portfolio under the program grew slowly, and the April revision of the terms and conditions had little impact on the program's costs. Therefore, the debt to banks for interest compensation at the end of the year will amount to about UAH 10 billion
According to the NBU's forecasts, banks may be reluctant to participate in lending under the program, due to its slow reorientation to support clients who need help the most. This reduces the overall effectiveness of the program. It is also noted that out of 11 banks participating in the 5-7-9% program, only 3 institutions are actively lending.
Recall
Under the program “Affordable Loans 5-7-9%” , 18,532 loans worth UAH 69 billion have been issued to entrepreneurs since the beginning of 2024.
