"Russian terror is growing": Ukrainian PM outlines measures to help business

The government is taking urgent measures to help businesses provide Ukrainians with food, medicines and other essential goods without interruption.

Source: Prime Minister of Ukraine Serhii Koretskyi

Details: "Russian terror against Ukrainian businesses and civilian infrastructure is growing rapidly. We must respond and act proactively," he wrote.

The prime minister stated that in order to ensure the uninterrupted supply of food, medicines and other essential goods to Ukrainians, the government, together with the National Security and Defence Council and on the instructions of the president, is taking a number of urgent measures.

The government is preparing a subsidised lending programme for businesses to replenish working capital of up to UAH 1 billion (approx. US$22.4 million) per company or group of companies, with a compensation of 5% of the market rate. These funds can be used, in particular, for the purchase of goods.

"We plan to simplify entrepreneurs' access to state assets: they will have the priority right to lease property that the State Property Fund puts up for auction. We are doing this because after every strike on workshops, warehouses or offices, companies need to quickly find new premises and resume operations," the prime minister said.

The government has also adopted recommendations taking into account differentiated alert systems so that prolonged air-raid warnings do not halt the supply of goods to people.

"If businesses stop every time a siren sounds, we lose jobs, tax revenues and the country's very capacity to provide people with what they need. But the recommendations take into account a mandatory safety component," Koretskyi noted.

"We have given all businesses three months to set up shelters and safe spaces at service locations," he added.

The prime minister said these and other decisions were discussed in detail at an expanded meeting involving major Ukrainian retailers, the deputy head of the Office of the President, the Antimonopoly Committee, the State Customs Service, the State Property Fund and others.

Background: Koretskyi previously stated that the government is introducing a strict budget austerity regime for funds not allocated to defence needs.

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