The Verkhovna Rada of Ukraine has allocated UAH 2 billion to the new budget program “Entrepreneurship Development Fund”. The corresponding bill No.2589 as a whole was backed by 261 deputies in the second reading.
The special fund of the state budget for 2020 was increased by UAH 2 billion due to funds from early repayment of bills by the Deposit Guarantee Fund for individuals. The funds will be directed to the Entrepreneurship Development Fund.
This bill is part of a loan program at 5-7-9% interest to support micro and small businesses. The size of loans under this program will reach UAH 1.5 million for five years, and the interest rate will depend on revenue and created jobs. The program should start from February 1, 2020
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