In Ukraine, the system of providing state support to small businesses has been improved

The Government of Ukraine supported the changes aimed at improving the processes of providing financial state support to micro, small and medium enterprises. This is especially important in the conditions of a full-scale war, which is why the draft of the relevant government resolution was adopted at a meeting of the Cabinet of Ministers.

As representatives of the Ministry of Finance of Ukraine reported, it is primarily about the development of the State programs "Affordable loans 5-7-9%", "Affordable financial leasing 5-7-9%" and "Affordable factoring". The resolution, in particular, provides for the possibility of reducing the interest rate for business by combining state support (programs 5-7-9) with partner programs of authorized banks, as well as improving the mechanism of providing guarantees to authorized banks by the Entrepreneurship Development Fund. In addition, it is planned to implement the conditions of environmental and social standards of the World Bank when granting loans to agricultural enterprises from December 1 of this year within the framework of the "5-7-9 Program". In addition, the government's decision regulated the fulfillment of the conditions of international cooperation on attracting affordable financing for Ukrainian entrepreneurship, in particular, with the World Bank, the International Bank for Reconstruction and Development and the International Development Association, as well as within the framework of agreements with the IMF on balancing support for small and medium-sized businesses with fiscal capacity of the state.

Note that this is not the only example of how the state takes care of the support and development of the agro-industrial sector. In particular, with the assistance of the authorities, during the year of the "Investments for business sustainability" program, Ukrainian agricultural enterprises were able to insure their crops for almost UAH 860 million. The co-financing program of the "Investments for Business Sustainability" Project was launched in September 2023. The implementation of the program enabled Ukrainian farmers to gain access to financing to continue their activities, save existing jobs, expand the planning horizon of their activities and minimize the impact of adverse weather conditions and improve business efficiency.