Banks sign memorandum on lending for projects to restore energy infrastructure

The relevant statement was made by National Bank of Ukraine (NBU) Governor Andriy Pyshnyy on Facebook, an Ukrinform correspondent reports.

According to Pyshnyy, this initiative is a joint position of banks combining more than 80% of the total assets in Ukraine’s banking system. Their financial offers under this initiative take into account the needs of various categories of small, medium and large businesses.

“Entrepreneurs can attract financing both for projects on the construction of solar, wind and biogas plants, as well as for the construction of gas turbine and gas piston power plants, and the purchase of industrial batteries, storage devices, etc. There are also offers for individual entrepreneurs, micro businesses. One can obtain this information in any branch of the banks that are signatories to the Memorandum,” Pyshnyy noted.

He also mentioned that, for the duration of martial law and one year after it is cancelled, the NBU had established temporary credit risk assessment features for specialized loans, facilitating the banks’ financing of investment projects.

Additionally, the regulator introduced increased liquidity ratios for collateral in the form of equipment intended to be used in the field of energy and distributed energy generation if such equipment is accepted as collateral for loans provided after June 1, 2024 for the purchase of such equipment.

At the same time, the National Bank is ready to consider requests from banks, which may arise when implementing the Strategy, Pyshnyy added.

A reminder that the Cabinet of Ministers of Ukraine expanded the government program ‘Affordable Loans at 5-7-9%’ to decentralized energy generation.

Photo: Andriy Pyshnyy, Facebook