More than half of loans under ‘5-7-9%’ program issued to farmers – Finance Ministry

The government program "Affordable Loans at 5-7-9%" is most popular among farmers:  54% of credits under this program have been issued to representatives of this industry.

The Finance Ministry of Ukraine wrote about this on its Facebook page.

Since the launch of the program, banks have issued 8,630 loans worth UAH 20.2 billion. Of the total amount, 54% of loans were provided to the companies operating in the agricultural sector, 18% to trade representatives, and 16% to the industry.

The largest amount of loans were issued in Lviv region (735 recipients), Kharkiv region (505), Odesa region (455), Volyn region (453), and Kyiv region (421).

As reported by Ukrinform, the Cabinet of Ministers approved a resolution to launch the program "Affordable Loans at 5-7-9%" from February 1, 2020. The state support program for micro- and small-sized businesses allows participants to receive up to UAH 1.5 million of available credit at 5, 7 or 9% for creating or expanding their own business. The maximum loan amount was initially set at UAH 1.5 million. In mid-March, the sum was raised to UAH 2 million.

On April 15, the Cabinet of Ministers increased the maximum amount of loan under the program to UAH 3 million, and also expanded the list of investment purposes for which these loans could be granted.

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