Key Highlights:
Government Programs Launched: On July 20, government programs for interest-free lending to citizens and the "Affordable 5-7-9 Loans" program for condominiums became operational. These programs aim to support the purchase of alternative energy generation and storage equipment.
Interest-Free Loans for Households: Private households can now access 0% interest loans for the purchase and installation of solar panels with energy storage systems and wind turbines. The state will fully compensate the interest rate on these loans for up to 10 years, with a loan amount of up to 480,000 hryvnias.
Support for Condominiums and Cooperatives: Associations of co-owners of multi-apartment buildings (SOBB) and housing and construction cooperatives (HBC) can utilize the "Available Loans 5-7-9%" program. This program offers loans for the installation of alternative energy generation units and energy storage systems, with loan amounts up to UAH 5 million for a period of up to 5 years at 7% per annum. This program works in conjunction with the "GreenDIM" program, which covers up to 70% of the project cost post-construction.
Participating Banks: Citizens can access these loan products at "Privatbank", "Oshchadbank", "Ukrgasbank", "Sens Bank", and "Globus". Condominiums can apply through "Globus", "Sky Bank", "Oschadbank", "Bank Vostok", "Privatbank", "Sens Bank", and "Ukrgasbank". The Ministry of Economy plans to increase the number of participating banks.
Business Loans for Energy Infrastructure: Businesses can now take out loans of over UAH 150 million from one of 19 major banks for the restoration of energy infrastructure. Loan amounts range from EUR 500,000 to EUR 25 million, with terms of 5-7 years. The base interest rate is 13.5% per annum for the first year or UIRD3M+0.5%, with a floating rate not exceeding UIRD12M + 3% from the second year.
Conclusion
The new interest-free loan programs and the "Affordable 5-7-9 Loans" initiative represent significant support for both households and businesses in Ukraine, facilitating the adoption of alternative energy sources and the restoration of energy infrastructure.
