The Cabinet of Ministers of Ukraine has increased the maximum amount of preferential loans for Ukrainian defense industry enterprises fivefold to UAH 500 million, Ukrainian Prime Minister Serhiy Koretsky said.
"The government has expanded the program to support the Ukrainian defense industry. The goal is to scale up production and increase the output of Ukrainian weapons for the front lines. We are increasing the maximum amount of preferential loans for Ukrainian defense enterprises fivefold – from UAH 100 million to UAH 500 million," Koretsky said on Telegram on Wednesday.
According to him, companies fulfilling state defense contracts will be able to borrow up to UAH 500 million in working capital at preferential rates of 5-10% per year, depending on the loan amount.
Investment loans needed for production development will be available at 5% per year, the head of government said.
"The program will operate through the National Development Agency within the limits of already allocated budget funds," Koretsky said.
