The Verkhovna Rada allocates UAH 5 billion in business loans

On September 3, the Verkhovna Rada adopted Bill 3659-d providing state guarantees for loans to small- and medium-sized businesses. The document was supported by 268 MPs. 

For 2020, the program totals UAH 5 billion. The state will guarantee the bank up to 80% of the loan amount, making it possible to cut the cost and extend credit resources to Ukrainian business.

Similar mechanisms of state support for entrepreneurs are used by many European countries, an especially critical measure during the COVID-19 crisis.