The government expanded support for defense enterprises: loans increased to 500 million hryvnias

The government expanded the program to support Ukrainian arms manufacturers and increased the maximum amount of preferential lending fivefold – from 100 million to 500 million hryvnias.

This was announced by Prime Minister Serhiy Koretsky.

According to him, the government hopes to help defense enterprises increase production and increase the output of Ukrainian weapons for the needs of the front.

Enterprises that perform state defense contracts will be able to attract up to 500 million hryvnias for working capital. The rate will be from 5% to 10% per annum, depending on the loan amount.

Separately, producers will be able to receive investment loans for the development and expansion of production at 5% per annum.

The program will operate through the National Development Agency. The decision does not foresee additional budget expenditures – financing will be carried out within the limits of already allocated funds.