President Volodymyr Zelensky signed the Law "On Amendments to the Law "On the State Budget of Ukraine for 2020" regarding the provision of state guarantees on a portfolio basis and the introduction of financial and credit mechanisms for providing citizens of Ukraine with housing" No. 873-IX, which parliament adopted on September 3, 2020, of the year. The press service of the President's Office reports this.
The document is aimed at expanding the opportunities for access to credit resources for micro, small and medium enterprises.
According to the law, this year the state can provide portfolio guarantees in the amount of up to 176,000 USD. To ensure partial fulfillment of debt obligations under the loan portfolio of creditor banks provided to Ukrainian micro-enterprises and SMEs in an amount not exceeding 80% of the total amount of such debt obligations for the loan portfolio and 80% for each individual loan, a decision of the Cabinet of Ministers is required, coordinated with the Committee of the Supreme We are glad about budget issues.
The document notes that the procedure for selecting creditor banks and the conditions for providing government guarantees on a portfolio basis, the amount and type of security provided by such business entities are established by the government. The provision of such guarantees is formalized in the form of an agreement between the Ministry of Finance and the creditor bank.
In addition, the law provides for the introduction of financial and credit mechanisms for providing Ukrainian citizens with housing, which will make it possible to implement the initiatives of the President of Ukraine regarding affordable mortgage lending.