Yuriy KRALOV: "Changes to the state program "Affordable loans 5-7-9" will strengthen support for entrepreneurship"

On December 28, 2020, the Cabinet of Ministers of Ukraine adopted the resolution "On Amendments to Resolution No. 28 of the Cabinet of Ministers of Ukraine dated January 24, 2020", in which the Ministry of Finance proposed a number of measures aimed at additional support for small and medium-sized businesses in quarantine conditions .

MTB BANK is one of 23 Ukrainian banks with which the Entrepreneurship Development Fund concluded a cooperation agreement within the framework of the state program "Affordable loans 5-7-9".

We sincerely welcome the changes to the program, - said Yuriy Kralov, Chairman of the Management Board of MTB BANK. - The adopted government decision extends the scope of the program to medium-sized enterprises with an annual income of up to 20 million euros. In addition, credit terms have been liberalized: the loan term for working capital financing has increased to three years. The payment deferral for loan repayment can be up to 12 months, the initial contribution to the implementation of the investment project is reduced: 10% - for an existing business and 15% - for startups. Thus, the number of entrepreneurs whose access to credit was simplified has increased significantly.

MTB BANK is confident that the easing of conditions for refinancing loans in terms of ensuring the preservation of the wage fund (reduction to 50%), the number of personnel (to 50%, as of March 1, 2020), for loans to finance working capital capital (interest compensation is established up to 0% per annum for the period of quarantine and restrictive measures, after the cancellation of which their compensation continues at the level of 3% per annum, and interest compensation up to 3% per annum is established for refinancing loans after March 31, 2021) will help entrepreneurs maintain their business , and with it - the economy of the country.

Added program "Available loans 5-7-9" provides for measures that are a universal and effective mechanism for lending micro, small and medium-sized businesses with financial state support to business entities regardless of their field of activity, - emphasized the Chairman of the Board of PJSC MTB BANK. Yury Kralov. - I want to draw attention to the fact that for us, as program participants, the main thing is not profit. But we understand very well that entrepreneurship and the banking system of Ukraine is a strong symbiosis, in which everything that is beneficial for business is also beneficial for the bank. Only together will we overcome the economic recession and live in a rich, modern and prosperous country.