Denys Shmyhal / Photo from UNIAN
Cooperation between the government and the National Bank is constructive, the official believes.
Ukrainian Prime Minister Denys Shmyhal has said the Cabinet of Ministers plans to continue constructive cooperation with the National Bank of Ukraine (NBU) as Ukraine's businesses need cheap loans.
"I'd like to assure you that cooperation between the government and the National Bank, which is based on legal grounds, is absolutely constructive and will develop further," he told journalists on July 22.
Cheap loans
Prime minister says that one of the key issues of such cooperation is to provide businesses with cheap loans.
"The government, together with the National Bank, must create appropriate conditions for commercial banks to be able to provide loans for Ukrainian businesses on very specific terms since they are in dire need of cheap lending resources," he said.
Background
On February 3, Ukrainian government announced the start of the program titled "Affordable Loans: 5%-7%-9%," evaluating its potential for 2020 at 50,000 loans.
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The Cabinet of Ministers on June 17 simplified access of businesses to loans that are provided for small- and micro-sized businesses under said program, easing mandatory profitability requirement for existing businesses and removing restrictions on the use of funds and the loan ceiling.
As of July 20, 2020, businesses have received 1,250 loans worth UAH 1.775 billion (US$64.2 million).