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Ukraine to partially compensate exporters for interest on loans
KYIV. Aug 24 (Interfax-Ukraine) – The state will partially compensate exporters for interest accrued and paid this year on loans insured by the Export Credit Agency (ECA), the website of the Ministry of Economy reported on Wednesday.
The corresponding decision was made by the Cabinet of Ministers at a meeting on August 23.
It is indicated that the state will partially compensate the rate on export loans, which are taken for a period of two to 12 years and amount to no more than 85% of the amount of a foreign economic contract.
Such loans should be used to replenish working capital, purchase equipment, fulfill the terms of a foreign economic contract, and build and reconstruct production facilities.
It is noted that the borrower must be a private entrepreneur or a legal entity registered on the territory of Ukraine (except for the temporarily occupied territories), not have open bankruptcy cases and not be in the process of liquidation.
The Ministry clarified that if the borrower violates the terms of interest payment for more than 15 days, compensation will be temporarily suspended.
