The Ukrainian defense industry has received a financial boost thanks to the subsidized lending program. Over the past year, 80 loans have been issued for a total of nearly 5 billion hryvnias, which will accelerate the transition from development to mass production of weapons.
Deputy Defense Minister Hanna Hvozdiyar emphasized the success of the program, which helps expand the activities of manufacturers. She stressed that the state is creating conditions for the stable operation of the defense industry, which is of great importance for Ukraine's defense economy.
The program is in demand, as evidenced by new applications totaling about 700 million hryvnias. Additionally, 52 other applications totaling over 4 billion hryvnias are under review. Participation in the program allows private defense manufacturers to obtain loans at 5% per annum for purchasing equipment, developing production, and supporting new military technology developments.
Ukrainian weapons and defense manufacturers have received a financial stimulus through the subsidized lending program, which allows them to expand production and develop new projects, thereby contributing to the defense economy of Ukraine. The program has already demonstrated its effectiveness by attracting interest from participants and stimulating further development of the Ukrainian defense industry.