State allocates UAH 1 bln for preferential loans and leasing for arms makers, Shmyhal says
Ukraine is strengthening systematic and long-term support for Ukrainian weapons manufacturers. The state is allocating UAH 1 billion to partially compensate interest on loans and leasing for defense industry enterprises.
Ukraine’s Defense Minister Denys Shmyhal reported this, Censor.NET says.
Opportunities for arms makers
As noted, the decision will allow arms makers to scale up production, invest in modern equipment, and move faster from development to serial production of weapons.
The preferential lending program provides:
-
up to UAH 100 million for working capital (up to 3 years);
- up to UAH 500 million for investment projects (up to 5 years);
- an effective rate for enterprises of 5% per annum, with the rest compensated by the state.
Defense industry enterprises
A preferential financial leasing program for defense industry enterprises has also been introduced, on the same terms of 5% per annum. This provides an opportunity to modernize production without excessive financial burden.
"Strengthening the defense industry is the foundation of a resilient defense economy and reliable provision of our military with Ukrainian weapons," Shmyhal stressed.
