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Government signs memorandum with banks on credit holidays for entrepreneurs, - PM

Source : 112 Ukraine

Ministers plan to introduce other loan programs for entrepreneurs, which will restore business activity
12:17, 30 May 2020

Coronavirus face mask financial market
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The government signed a memorandum with nine banking institutions on credit holidays for entrepreneurs during the year. Prime Minister of Ukraine Denys Shmygal stated this on the air of one of Ukrainian television channels, as UNN reports.

"Today, nine banks have signed an agreement that they will not accrue interest on the restructuring of the loan. That is a credit vacation," the Prime Minister said.

Related: Japanese scientists look into why coronavirus is more dangerous in Europe and U.S.

Shmygal noted that the government plans to introduce other loan programs for entrepreneurs, which will restore business activity.

As we reported earlier, the International Monetary Fund (IMF) will approve a $ 5 billion assistance program for Ukraine at a board meeting on June 5.

Shmygal said in a conversation with the agency that Ukraine needs the IMF's money to withstand the economic shock in connection with the coronavirus pandemic. He said that according to preliminary estimates, Ukraine’s GDP in the second quarter could fall by 12%.

Related: Trump severes all US relations with WHO

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