Ukrainian banks issued UAH 1.34B worth of affordable loans last week – Finance Ministry

Ukrainian banks last week issued 447 loans worth UAH 1.34 billion under the state program "Affordable Loans 5-7-9%," the Ukrainian Finance Ministry has reported.

In total, since the program was launched, representatives of micro, small and medium enterprises have received 28,597 loans for UAH 76.2 billion from authorized banks, the report said.

According to the ministry, entrepreneurs received UAH 9.12 billion for investment purposes, UAH 44.37 billion as anti-crisis loans, and UAH 22.76 billion for refinancing previously received loans.

The Cabinet of Ministers on October 21, 2021 adopted resolution No. 1106, which provides for the involvement of even more participants in the state programs "Affordable Loans 5-7-9%" and "Affordable Mortgage 7%."

The government program "Affordable Loans 5-7-9%" was launched on February 1, 2020. Loans are provided at three possible lending rates depending on the size of the borrower's business and the duration of its operation. The program is being implemented by the Entrepreneurship Development Fund, which has already concluded cooperation agreements with 39 banks.

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