The government supported the possibility of reducing the interest rate for business - through a combination of bank programs, in particular “5-7-9”
Kyiv • UNN
The Cabinet of Ministers approved the possibility of reducing interest rates for businesses by combining government programs with banking programs. It also improved the mechanism for providing guarantees and introduced environmental standards for agricultural loans.
The Cabinet of Ministers will continue to look for ways to improve financial support for businesses. Currently, a number of government programs have received support; a government decree provides for a reduction in the interest rate.
Written by UNN with reference to the press service of the Ministry of Finance of Ukraine.
On September 13, the Cabinet of Ministers adopted a resolution “On Amendments to the Resolution of the Cabinet of Ministers of Ukraine No. 28 of January 24, 2020”.
The resolution, in particular, provides for the possibility of reducing the interest rate for businesses by combining state support (programs 5-7-9) with partnership programs of authorized banks.
It also includes improvements to the mechanism for providing guarantees to authorized banks by the Entrepreneurship Development Fund (EDF);
The government also promises to introduce, as part of the 5-7-9 Program, “the terms of the World Bank's environmental and social standards when granting loans to agricultural enterprises.
AddendumAddendum
The terms of international cooperation on attracting affordable financing for Ukrainian businesses have been regulated, in particular, with the World Bank, the International Bank for Reconstruction and Development and the International Development Association, as well as within the framework of agreements with the IMF to balance support for small and medium-sized businesses with the fiscal capacity of the state, the Ministry of Finance portal reports.
To recap
Since the beginning of 2024 , Ukrainian entrepreneurs have received 14,645 soft loans worth UAH 55.2 billion under the 'Affordable Loans 5-7-9%' program. Most of the funds were allocated to agriculture and manufacturing.
