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Cabinet extends 5-7-9% program for farmers for sowing season, raises its rates on other loans
KYIV. March 15 (Interfax-Ukraine) – At a meeting on Tuesday, the Government of Ukraine made changes to the state program Affordable loans 5-7-9% and extended the period during which agricultural producers would be able to receive financial support for the sowing campaign, the Ministry of Finance said on Tuesday.
“In order to optimize the state program Affordable loans 5-7-9% and Affordable financial leasing 5-7-9% in the context of martial law, the government adopted a resolution today … The adopted changes extended the provision of state financial support for businesses, in particular, agricultural producers who received loans as part of the sowing campaign in 2022,” the release says.
According to it, the possibility of providing state guarantees has been introduced to ensure partial fulfillment of debt obligations on such loans, and the condition for the extension is the repayment by representatives of large and medium-sized agribusiness of up to 25% of the loan received.
In addition, within the 5-7-9% program, it is provided for the establishment of a compensatory rate for loans for investment purposes for medium and large enterprises of 9% per annum with the possibility of reducing when creating new jobs up to 7%, and for micro and small enterprises – 7% per annum with the possibility of reduction to 5%.
For loans to replenish working capital for all enterprises, a compensatory rate will be 9% per annum.
The program Affordable financial leasing 5-7-9% provides for the establishment of a compensatory pay for medium and large enterprises at 11% per annum with the possibility of reducing when creating new jobs up to 9% per annum, for micro and small enterprises – 9% per annum with the possibility of reduction to 7% per annum.
In addition, the resolution also provides for the abolition of compensatory rates for loans and compensatory pay for leasing at the level of 0% per annum; as well as the exclusion of financing to prevent and overcome the consequences of the COVID-19 pandemics, including the refinancing of such loans.
