Govt approves condition for govt guarantees for up to UAH 27.3 bln in 2019
The Cabinet of Ministers of Ukraine has approved the rules and conditions for the provision of government guarantees for the amount of no more than UAH 27.3 billion in 2019 in the reviewed bill on Ukraine's national budget for 2019.
According to the draft document posted on the parliament's website, in 2019, government guarantees can be provided to ensure no more than 80% of the debt obligations of resident enterprises on loans to finance investment projects or programs related to improving the state's defense and security in the amount of up to UAH 5 billion. The latter, by decision of the Cabinet of Ministers, can be exempted from the obligation to provide property or other assets as collateral.
In addition, government guarantees can be provided to ensure the fulfillment of the debt obligations of PrJSC Ukrhydroenergo on loans attracted to the project for the construction of the Dnistrovska and Kaniv pumped storage power plants. By decision of the Cabinet of Ministers, Ukrhydroenergo may also be exempted from the obligation to provide property or other assets as collateral.
According to the document, government guarantees will also be provided to ensure the fulfillment of debt obligations on loans attracted to finance projects of the State Mortgage Institution to provide housing for citizens on mortgage lending or financial leasing, as well as under international agreements for the financing of investment, innovation, infrastructure and other development projects of strategic importance and the implementation of which will contribute to the development of the national economy projects aimed at improving energy efficiency and strengthening the competitive advantages of Ukrainian enterprises.
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