15:48 25.08.2021

Affordable loans 5-7-9% program should focus on investment goals – Finance Minister

2 min read
Affordable loans 5-7-9% program should focus on investment goals – Finance Minister

The Ministry of Finance of Ukraine pledges funds for the Affordable loans 5-7-9% program in the draft state budget for 2022, but sees the need to reformat it so that most of the loans are issued for investments in fixed assets, Minister of Finance Serhiy Marchenko said.

"It is important for us to reformat this program so that most of the loans go to investments in fixed assets," he said in an exclusive interview with Interfax-.

Marchenko said that the Ministry of Finance held a meeting with commercial foreign-invested banks with, where they talked about proposals to modernize the Affordable Loans program. "We asked to send proposals in writing. But in writing, this does not mean the need to disturb the market, like, everything is gone and the program is not working. This is one of the most effective programs," the Minister of Finance said.

"But in the future, it is important to focus on investment goals," Marchenko said.

Earlier, in June, the Forum for Leading International Financial Institutions (FLIFI), headed by the Board Chairman of Raiffeisen Bank, Oleksandr Pysaruk, sent a letter Ukraineto the National Bank of Ukraine (NBU) and the Ministry of Finance with a request to limit the implementation of the Affordable loans 5-7-9% program.

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