Zelensky advocates for credit holidays for small and micro-business

Source : 112 Ukraine

The President said that business needs to be helped now and after quarantine so that it can recover quickly
17:37, 11 May 2020
President of Ukraine Volodymyr Zelensky at a conference call to prevent the spread of coronavirus advocated for credit holidays for small and micro businesses, which were most affected by quarantine restrictions. This was reported on the website of the President's Office.

The head of state asked about the state of the economy and the functioning of programs that should help businesses in the quarantine period.

"We discussed a number of credit support programs for small and micro-businesses, because they suffer most from lockdown. We must help them now and after quarantine so that they can recover quickly. We need to offer them the so-called credit holidays," Zelensky said.

Prime Minister Denys Shmygal said that the government has created all the prerequisites for the full-fledged work of the “Affordable loans 5-7-9%” updated program, another program - “New money” is also finalized. With it,  entrepreneurs will be able to get loans at a very low percent.

“These programs will help Ukrainian businesses withstand the difficult economic conditions caused by the epidemic, and will also guarantee the preservation of jobs. The main condition of the programs is the preservation of at least 80% of jobs in small and micro-businesses,” Shmygal emphasized.
Related: Kyiv approves rules for operation of summer areas of cafes in lockdown

The Prime Minister also said that, according to the State Employment Center, an additional 140,000 unemployed were registered this month. To help people who have lost their jobs, the Cabinet of Ministers allocated six billion hryvnias from the Coronavirus Foundation.

It is noted that the head of state was also informed about the readiness of hospitals to accept patients and the latest statistics on the spread of infection and reported that the mortality rate from Covid-19 in Ukraine is low - 2.6%.

From today, May 11, throughout Ukraine, the quarantine restrictions imposed in connection with the epidemic of the coronavirus Covid-19 are being weakened. Ukrainians were allowed to visit parks and squares, as well as children's and sports grounds on the street. The work of dentists, beauty salons and hairdressers is allowed, the activities of notaries, lawyers, psychologists are being restored. Also, summer areas of cafes and shops in the malls can work.
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