Banks issued UAH 1.92B under Affordable Loans program last week – Finance Ministry

Since the start of the government’s program “Affordable Loans at 5-7-9%", business entities have received loans for a total sum of UAH 181.59 billion from authorized banks, including UAH 1.92 billion worth of loans in the past week.

"Over the past week, 511 preferential loans for a total sum of UAH 1.92 billion were issued within the Program, including 407 loan agreements for a total sum of UAH 1.27 billion concluded by public sector banks," the Finance Ministry said.

It is noted that since the start of the government’s program "Affordable Loans at 5-7-9%", business entities have received 57,943 loans worth UAH 181.59 billion from authorized banks, including UAH 76.49 billion worth of loans from 38,147 from public sector banks.

Since martial law was imposed in Ukraine, banks participating in the program signed 23,121 loan agreements worth UAH 91.96 billion (including 17,671 loan agreements worth UAH 49.84 billion issued by public sector banks), of which a total of UAH 0.87 billion was issued for investment purposes, UAH 6.98 billion as anti-crisis loans, UAH 4.37 billion as refinancing of previously received loans, UAH 26.55 billion as loans for agricultural producers, and UAH 53.17 billion as loans for anti-war goals.

As reported, on October 21, 2021, the Cabinet of Ministers adopted resolution No.1106 to increase the number of participants in the government’s programs "Affordable Loans at 5-7-9%" and "Affordable Mortgage at 7%". The resolution introduced the state financial leasing program for micro-, small- and medium-sized enterprises. The government’s program "Affordable Loans at 5-7-9%" was launched on February 1, 2020.

The program is implemented by the Entrepreneurship Development Fund that has already concluded cooperation agreements with 45 banks.