Rada expects first preferential loans for Ukrainian defense industry to be issued by year end – Yanchenko

The Temporary Special Commission of the Verkhovna Rada of Ukraine on Protection of Investors' Rights expects that the first preferential loans for the Ukrainian defense industrial complex will be issued by the end of this year, MP, Chairperson of the Parliamentary Temporary Special Commission on Protection of Investors’ Rights Halyna Yanchenko said.

"We are really looking forward to the first preferential loans for the Ukrainian defense industry. God willing, the first ones will be issued before the end of this year. For some time there was bureaucratic red tape in the triangle of the Ministry of Finance – the Ministry of Strategic Industries – the Enterprise Development Fund [EDF, which should provide banks with the opportunity to provide preferential loans at 5% per annum to defense industry companies]," Yanchenko said in an exclusive interview with Interfax-Ukraine.

The MP recalled that the final meeting of the Temporary Special Commission was held recently, attended by all defense associations, as well as weapons manufacturers and representatives of government agencies working with the defense industry.

"Therefore, there was an opportunity to figure out on the spot who is lagging. We hope that such a face-to-face meeting will speed up the process of resolving bureaucratic delays and issuing the first preferential loans in the defense industry," Yanchenko noted.