State Energy Support for Ukrainian Businesses
Ukrainian entrepreneurs can now apply for state energy support, with applications open from February 2. The program offers one-time grants to sole proprietors (FOPs) of the 2nd and 3rd groups who employ staff, with amounts ranging from 7,500 to 15,000 hryvnias. The grant size is directly tied to the number of employees, a key criterion for eligibility. This initiative is part of a broader government effort to stabilize the economy amid ongoing energy challenges.
Funding applications are submitted online via the Diia portal under the 'Entrepreneurship' category, selecting the 'Energy Resilience Assistance for FOPs' service. Applicant data is verified automatically to streamline the support process. Funds are credited to a Diia.Card through five participating banks: PrivatBank, Sense Bank, Bank Credit Dnipro, A-Bank, and monobank.
Preferential Business Loans
In addition to direct grants, micro, small, and medium-sized businesses can access preferential zero-interest annual loans for energy equipment under the 'Affordable Loans 5-7-9' program. Loans can reach up to 10 million hryvnias with repayment terms of up to three years. The state, via the Entrepreneurship Development Fund, will compensate banks for the interest. Applications are being accepted by 17 partner banks, with lending eventually available through 43 financial institutions. Energy-related loan applications will receive priority processing, aiming to bolster business continuity during the difficult energy situation.
This support was announced as President Volodymyr Zelenskyy reported on February 2 that the energy system was being restored following a major failure on January 31. Furthermore, applications for the 'LightHome' program for apartment buildings opened on January 30, highlighting the government's comprehensive approach to energy stability.
This energy support will help businesses continue operating, preserve jobs, and ensure people in cities and communities have access to essential goods during prolonged blackouts.
Yuliia Svyrydenko, Government Representative
Consequently, the new energy support program aims to help Ukrainian entrepreneurs adapt to the complex operational conditions within the energy sector. Funds received can be used for:
- purchasing or repairing generators and other energy equipment
- batteries
- inverters
- charging stations
- solar panels and components
- fuel for generators
- paying for electricity to enable autonomous operation during grid outages
The launch of this energy support program is a significant step within the context of Ukraine's current energy crisis, driven by factors including military actions and severe weather. Supporting businesses in this environment is critical for preserving employment and economic stability. It also demonstrates the government's efforts to adapt to new challenges and ensure socio-economic resilience across the country.