Micro and small business loan program starts in Ukraine on Feb.1

The decision was made at the Cabinet’s meeting on January 24, Prime Minister of Ukraine Oleksiy Honcharuk posted on Telegram channel.

"The Government endorsed a decree to launch the program "Affordable loans at 5-7-9%" for micro and small business from February 1, 2020. The state support program for micro and small businesses will allow participants to get up to UAH 1.5 million in affordable loan at 5%, 7% or 9% for creating or expanding their business," Honcharuk explained.

He added that the Government had identified a mechanism for using budget funds within the framework of the Enterprise Development Fund. A number of tools will also be provided to ensure affordable loans.

As reported, the Government of Ukraine launches a financing program for small and medium-sized businesses at a reduced rate of interest and plans to start a tax reform in early spring.

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