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The government allowed banks to increase the rate to 20% for new targeted loans

The Cabinet of Ministers of Ukraine today amended the provisions on targeted lending programs. According to the changes, banks for the period of martial law will be able to increase the rate up to 20% for new loans.

According to Ukrinform, about this on government meeting said the Prime Minister of Ukraine Denys Shmygal.

“Among other government decisions that we are taking today to restore economic activity, these are changes to the regulations regarding directed lending programs. After the increase in the NBU discount rate, such programs were put on hold. Business is talking about it. Therefore, the government will today make changes that will remove the barriers that have arisen under the 5-7-9 program, financial leasing and the government portfolio guarantee program. During martial law, banks will now be able to increase the rate to 20% for new loans,” Shmyhal stressed.

Read also: The National Bank has simplified the cancellation of licenses for credit unions

According to him, the emphasis is also placed on investment loans; The main purpose of the changes is to activate soft lending programs for businesses.

As I told Ukrіnform, on the 25th day of the Ministry of Finance I said that since the start of the national program “Available loans 5-7-9%” 45,767 credits were issued in Ukraine for a total amount of 131.51 billion hryvnias, of which for the last week – 122 loans for 1.07 billion hryvnias.

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