Ukraine to launch more COVID-19 financial assistance for private sectors

Source: Xinhua| 2020-11-25 09:41:52|Editor: huaxia

KIEV, Nov. 24 (Xinhua) -- Ukraine will provide more financial assistance to private sectors during the COVID-19 quarantine restrictions, the presidential press service said Tuesday.

According to the press service, President Volodymyr Zelensky said that more than one million Ukrainians will be able to get the financial aid under this program totaling 10 billion hryvnia (353 million U.S. dollars).

Small and medium-sized businesses have already received over 13 billion hryvnia (458 million dollars) under the Affordable Loans program, Zelensky noted.

The Ukrainian government also intends to provide a one-time material support to business entities to save jobs, which will be up to 8,000 hryvnia (282 dollars) per employee, Zelensky said.

The COVID-19 pandemic has inflicted damage on the country's economy. The National Bank of Ukraine has forecast a 6-percent decline in economy for this year. Enditem