Interest-free loans for farming and business are being provided in Ukraine | ZI.ua
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Interest-free business loans are provided to settlers and unemployed people

7 июля 2018, 16:30 | Бизнес
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Interest-free business loan
Interest-free business loan

The Ministry of Social Policy, with the support of the International Bank, provides for interest-free loans to settlers, temporarily unemployed and low-income people for farming and business setting up under the “Hand of Assistance” project, agronews.ua reports.

The loan is provided for the implementation of business plans, after their approval by the local regional administration. A newly-created entrepreneur can use the received funds to purchase the necessary equipment and machinery. The loan amount can be 40 subsistence minimums (up to 70 thousand UAH).

The “Hand of Assistance” project started last year in August. Since then, more than 4 thousand people have become its participants. Inna Shinkarenko, the program's coordinator, said that the reduction in the loan debt is caused by the amount of taxes paid. If an entrepreneur hires ATO participants, low-income and temporarily displaced persons, then the debt can be completely annulled.

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