Weapon and military equipment manufacturers will be able to receive preferential loans.

The government has approved a program to support the defense industry

The Cabinet of Ministers has approved a new program to support the defense industry. According to this program, critically important enterprises will be able to receive a loan of up to 500 million UAH for a period of up to 5 years at an interest rate of 5% per year. This was announced by Prime Minister Denys Shmyhal.

"More than 500 defense enterprises are working and producing various weapons: ammunition, drones, guns, armored vehicles. We are interested in increasing the number of such manufacturers. Therefore, today we approve a new program of preferential lending for the defense industry," he said.

Shmyhal clarified that enterprises recognized as critically important by the Ministry of Strategic Industries will be able to receive a loan of up to 500 million UAH for a period of up to 5 years at an interest rate of 5% per year. According to him, the funds can be used either to replenish working capital or to implement investment projects.

"We expect that next year the volumes of weapons production will significantly exceed this year's figures," emphasized the Prime Minister.

This year, the budget already includes 263.4 million UAH for the implementation of the program. Manufacturers will be able to take out loans at a preferential rate of up to 100 million UAH for a period of up to 3 years for replenishing working capital, or up to 500 million UAH for investment projects for up to 5 years.

These funds can be used for the development, production, repair, modernization, and disposal of weapons, military and special equipment, ammunition, their components, and other products of military purpose used to meet the needs of the Armed Forces.