KfW allocates EUR 50 million to support Ukrainian business - Ministry of Finance
Kyiv • UNN
The German bank KfW has approved a €50 million non-refundable grant to support Ukrainian businesses that remain operating in the face of war. In particular, the funds will be used under the state program "Affordable Loans 5-7-9%".
Ukraine received a non-refundable loan of 50 million euros from the Kreditanstalt für Wiederaufbau (KfW) as part of the state support program "Affordable Loans 5-7-9%". The grant money is intended to support Ukrainian small and medium-sized businesses in times of war. This is reported by UNN with reference to data from the Ministry of Finance.
Support for small and medium-sized businesses is one of the priorities of the Government of Ukraine and is carried out through the state program "Affordable Loans 5-7-9%". Financial assistance from KfW allows us to continue providing Ukrainian businesses with affordable financing, which in turn will contribute to their development, job creation and economic growth in the context of a full-scale war.
Details
The Defense Ministry assured that the funds from KfW will be used to refinance expenses under the the State Support Program "Affordable Loans 5-7-9%", which will allow to continue to provide access to preferential loans for small and medium-sized businesses in Ukraine. lending.
The state program "Affordable Loans 5-7-9%" is implemented by the Entrepreneurship Development Fund, which provides financial support for Ukrainian business aimed at its recovery and development in the conditions of martial law. [Earlier
UNN wrote that the German Credit Institution for Reconstruction (KfW) will provide Ukraine with a loan of 50 million euros. These funds will be used to refinance the Affordable Loans 5-7-9% Program, which will allow reimbursement of expenses to compensate for the interest rate on loans for small and medium-sized businesses Ukraine.
