25 Aug 2022 12:32

Ukraine to partly reimburse loan interest to exporters

MOSCOW. Aug 25 (Interfax) - The state will reimburse Ukrainian exporters some of the interest accrued and paid this year on loans, which are insured by the Export-Credit Agency, Ukrainian media said on Wednesday, citing the website of Ukraine's Economy Ministry.

This decision was adopted by the government on August 23.

In accordance with this decision, the state will partly reimburse interest on export loans taken for two to 12 years and which do not exceed 85% of a foreign trade contract's amount.

Such loans should be intended to replenish circulating assets, fulfill the terms of a foreign trade contract, and build and repair production facilities.

A borrower should be an individual entrepreneur or a legal entity registered in Ukraine and should not have any ongoing bankruptcy proceedings or be in the process of liquidation.

Interest reimbursement will be temporarily suspended if a borrower delays interest payments for more than 15 days, the ministry said.