Zelensky proposes "payment holidays" for small and micro businesses

21:55, 11 May 2020
Economy
412 0
REUTERS

"We've discussed a number of credit support programs for small and micro businesses, because they suffer the most from quarantine. We need to help them now and after the quarantine so that they can recover quickly. We need to offer them so-called payment holidays," Zelensky said during an intercom meeting on measures to prevent the spread of the COVID-19, according to the presidential press service.

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Ukrainian Prime Minister Denys Shmyhal, in turn, informed the president that the government had created all conditions for the full operation of the updated program "Affordable Loans 5-7-9%." What is more, another program, "New Money", under which entrepreneurs will be able to get loans at a very low interest rate, is being finalized.

"These programs will help Ukrainian businesses withstand the difficult economic conditions caused by the epidemic, as well as guarantee jobs. The main condition of the programs is that small and micro businesses maintain at least 80% of jobs," Shmyhal said.

He also said that, according to the State Employment Center, additional 140,000 unemployed people were registered that month. The Cabinet of Ministers allocated UAH 6 billion, or US$223.7 million, from the Anti-Coronavirus Fund to help people who have lost their jobs.

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