Back
Automatically translated version. May contain inaccuracies compared to the original.
After the restoration of state payments under the “Affordable Loans 5-7-9%” program, there is currently no risk of businesses being moved to market rates. This was stated to Dilo on 26 October during the Kyiv International Economic Forum by Member of Parliament Dmytro Kysylevskyi.
Because of delays in state payments, banks began warning entrepreneurs about a possible increase in loan rates. For businesses, this would have meant additional, unforeseen expenses. The new government payment should reduce this risk. However, according to Kysylevskyi, the problem of inconsistent regulatory requirements between the government and the National Bank of Ukraine (NBU) remains.
How the “5-7-9” program works
Under the “5-7-9%” program, the bank issues the entrepreneur a loan at the full rate, but the business pays only part of it and the state compensates the difference. For example, if the full rate is 18% per year and the preferential rate is 7%, the entrepreneur pays 7% and the government must compensate the remaining 11 percentage points.
When compensations are delayed, the bank does not receive part of the interest. Because of this, some banks started sending entrepreneurs letters warning of a possible switch to the full rate. After the state funds arrived, the preferential conditions were supposed to be restored.
According to Kysylevskyi, banks begin sending such warnings after four to five months of delayed compensations. He explains the reason as discrepancies between the regulatory requirements of the government and the NBU. The MP claims that NBU requirements force banks, from the seventh month of delayed state payments, to recognize borrowers as problematic.
At the same time, Cabinet Resolution No. 28, which regulates the “5-7-9%” program, provides a different period: a delay in state compensation for no more than nine consecutive months should not be grounds for recognizing an entrepreneur’s interest arrears as overdue.
Earlier, NBU Director of the Financial Stability Department Pervin Dadashova told ZAXID.NET that banks may demand that entrepreneurs pay the state’s portion of interest only after a compensation delay of more than nine months. Before that, the bank may offer the borrower to temporarily cover the difference between the rates, but it does not have the right to demand this as a mandatory payment.
According to Dadashova, if an entrepreneur pays their portion of the loan on time, a delay in the state compensation should not worsen their credit history or credit risk assessment.
Thus, the NBU representative’s explanation differs from Kysylevskyi’s claim about the consequences of delays from the seventh month. The Dilo editorial office sent a request to the National Bank to clarify which regulatory requirements apply to banks and how they affect program participants. At the time of publication, there was no response from the regulator.
Has the risk of rate increases for businesses disappeared?
On 20 October the State Treasury transferred 2,8 billion UAH to the National Development Institution (NDI) for compensations to banks under the “5-7-9%” program. As Dilo previously reported, the funds were expected to reach the banks within the next few days.
However, the state has not yet settled the entire debt under the program. According to Kysylevskyi, at the beginning of 2026 the debt to banks was about 7 billion UAH. The MP explained that for banks the important factor is primarily the duration of delayed compensations, not the total amount of debt. Therefore, he said, the state is trying to avoid delays of more than six months.
Will the “5-7-9%” program operate in 2027?
The preferential business lending program is planned to be continued next year. However, already in 2026 the budgeted funds for its financing are insufficient.
Prime Minister Serhii Koretskyi said on 26 October that 18 billion UAH were allocated in the state budget for the “5-7-9%” program. Due to high business demand for preferential loans, actual need has risen to 22 billion UAH. So the government needs to find an additional 4 billion UAH.
At the same time, Kysylevskyi said that in the draft budget for 2027 the government plans to preserve and increase funding for business support instruments.
Document: PDF proof of the original version of the news item "Кредити "5-7-9%": чому банки могли скасувати пільгові ставки і що змінилось тепер". It records the publication content at the moment of the first scan, the preservation date and the source: Delo.ua.
