The government continues to support business

The government continues to support business

Ukraine continues to support business throughout difficult times. On October 14, 2022, the Cabinet of Ministers of Ukraine approved a resolution that allows to attract up to UAH 60 mln in soft loans to enterprises that lost their production facilities due to the war.

Such a new program will allow to restore the work of a part of businesses in relation to production facilities that were destroyed, damaged or located in the occupied territories. The loan will be provided for investment purposes or for working capital financing. The state provides up to 80% of the loan body to the bank.

The loan is granted for up to 5 years. The main condition is that a new or renewed enterprise cannot be located closer than 50 kilometers to the line of fighting.

In the current conditions, there are dozens and hundreds of businesses in Ukraine that are ready to resume work, invest their own funds, return employees, but need additional state support.

Therefore, the state has become one of the main customers, including the private sector. More than 3,000 enterprises are currently working for the mobilization needs of the economy. These enterprises, institutions and organizations cover the needs of the Armed Forces of Ukraine and critical areas of the front and the rear.

Additionally, during the period of martial law in Ukraine, more than 13,500 businesses received loans for UAH 54 bln within the State Program “Affordable Loans 5-7-9%”.

More than a thousand grants have already been issued under eRobota government program, including UAH 250 mln for micro-businesses, UAH 320 mln for opening 50 new production facilities in the field of processing. These are enterprises of the food, furniture, woodworking industries, metallurgy, production of electrical and mechanical equipment. Currently, thousands of new jobs are created, and this is only the start of the program.

Follow us on Facebook, Twitter, LinkedIn, or YouTube .