Ukraine to spend UAH 30 bln on loan program, UAH 6 bln on support for businesses – Zelensky

10:45, 04.05.2020 1 min read

The government will provide small and medium-sized businesses with guaranteed loans at 3-5%, Ukrainian President Volodymyr Zelensky said.

"First of all, it is a program of loans at 3-5% for small and medium-sized business. We are aware that there are entrepreneurs who did not work during the lockdown, hence they are unable to show their incomes to a bank. However, they will receive the money they need as the government will be the guarantor. We are planning to allocate up to UAH 30 billion for this program," the head of state said in his video message to the Ukrainians on May 1.

Additional UAH 6 billion will be channeled into increasing the minimum unemployment allowance and supporting employers who had to suspend their activities due to the coronavirus (COVID-19) outbreak in the country.

"They will receive compensation from the government for payment of wages to their employees," he said.