Feedback

Zelensky signs law on state portfolio guarantees

Source : 112 Ukraine

The law expands opportunities for access to credit resources for micro, small and medium enterprises
23:08, 21 September 2020

Official website of the President of Ukraine

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.

Related: Ukraine treats Russians with chocolate at Donbas talks, they refuse from it, - official

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.

Related: Ukraine invites IMF to start online mission in country

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.

 

 

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more