Program of additional compensation for the restoration of micro, small and medium-sized enterprises in the Kyiv region within the framework of the State Program “Affordable Loans 5-7-9%”

Procedure for the use of funds provided for in the regional budget to provide additional reimbursement (compensation) of part of the interest by reducing the compensation interest rate to 0% per annum on loans granted by authorized banks to micro, small and medium-sized enterprises under the State Program “Affordable Loans 5-7-9%” in accordance with the Comprehensive Program “Competitive Kyiv Region” for 2022-2025

This Procedure defines the mechanism for additional reimbursement (compensation) of part of the interest, which is carried out by reducing the compensation interest rate to the level of 0 (zero) % per annum on loans granted by authorized banks under the State Program “Affordable Loans 5-7-9%” for the implementation of investment goals of micro, small and medium-sized enterprises – legal entities and individual entrepreneurs who have restored, created or preserved jobs at their enterprises during the martial law in the country, together with the payroll.

Additional reimbursement (compensation) of part of the interest on investment loans of micro, small and medium-sized enterprises of the Kyiv region (hereinafter referred to as Additional Interest Reimbursement), the list of which was agreed in the approved quarterly registers for Additional Interest Reimbursement (hereinafter referred to as the MSME Register), is carried out through the Business Development Fund (hereinafter referred to as the BDF) in accordance with the Procedure for providing financial state support to small and medium-sized enterprises, approved by the Resolution of the Cabinet of Ministers of Ukraine.

Additional reimbursement of interest is carried out through the BDF within the funds received by it, provided for in the regional budget for the implementation of the Program Task, in accordance with the procedure and on the terms of the cooperation agreement concluded with the Department of Economics of the Kyiv Regional Military Administration (hereinafter – the Department), which is the administrator of the regional budget, within the annual budget allocations of the Program Task. The basis for determining the procedure for transferring regional budget funds through the SPF for Additional Interest Reimbursement is the Resolution of the Cabinet of Ministers of Ukraine dated 24.01.2020 No. 29 “On Approval of the Procedure for the Use of State Budget Funds Provided for the Functioning of the Business Development Fund” as amended.