17 major banks have signed a Memorandum regarding bank lending for projects aimed at restoring the country’s power supply infrastructure.
Ukrinform reports that Andriy Pishnyi, Chairman of the National Bank of Ukraine, announced this on his Facebook account.
Pishnyi noted, “Yesterday, 17 signatures were affixed to a document that I consider to be somewhat historic for the banking sector. For the first time (I have been in the banking sector for a long time and do not remember similar precedents), such a highly competitive environment has united for a national purpose, offering a common commercial framework. Not declaratively, but effectively.”
He emphasized that this initiative represents a joint position of banks that collectively hold over 80% of all banking system assets. Their financial offers within this initiative consider the needs of various categories of small, medium, and large businesses.
The Chairman of the NBU urged, “Entrepreneurs can secure financing for projects such as the construction of solar, wind, and biogas plants, as well as for building gas turbine and gas piston power plants, purchasing industrial batteries, storage devices, and more. There are also offers available for individual entrepreneurs and micro-businesses. This information can be obtained at any branch of the banks that signed the Memorandum.”
He also reminded that during the period of martial law and for one year after its cancellation, the National Bank has established temporary special features for assessing credit risk on specialized loans, which facilitate bank financing of investment projects.
In addition, the regulator has introduced increased liquidity ratios for collateral in the form of equipment intended for use in power supply and distributed energy generation, in cases where such equipment is accepted as collateral for loans granted after June 1, 2024, for the purchase of such equipment.
Pishnyi noted, “At the same time, we are ready to review banks’ requests that arise during the implementation of the Strategy.”
As reported, the Cabinet of Ministers of Ukraine has expanded the scope of the state program “Affordable Loans 5-7-9” to include financing for the decentralization of power generation.