Oschadbank has signed the first loan agreement in Ukraine for the installation of a gas piston power plant under the updated program "Affordable Loans 5-7-9%"

Oschad was the first Ukrainian bank to enter into a loan agreement for the installation of a gas piston power plant under the updated "Affordable Loans 5-7-9%" program. Thanks to the government program, the loan will be provided on attractive terms with an interest rate of 9%. According to the agreement, the client, which supplies raw materials to many Ukrainian producers of essential goods, will receive a loan of UAH 28.7 million for a period of 5 years. The plant has a capacity of 2.5 MW, which will secure production in the event of a prolonged power outage.

"As the economic bloc of the Government, it is important for us to ensure that businesses are able to operate even during electricity supply restrictions. Realizing this, we have expanded the capabilities of the state program "Affordable Loans 5-7-9%" so that entrepreneurs can purchase gas generating units with credit funds. This will allow them to increase their energy resilience. Today we see the first positive results of this program. This is just one of the elements in the Government's support package. In addition to lending to gas-fired power generation for enterprises, there are a number of other government programs and individual offers from banks aimed at improving energy resilience for both businesses and households," said Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.

"Cooperation with the government gives Oschadbank the opportunity to make energy independence loans more affordable for individuals and businesses. This partnership helps the Ukrainian economy to become more resilient and citizens to survive possible blackouts with the least inconvenience.  We are grateful to the government for entrusting our bank with the implementation of its programs. Using our own preferential products and cooperation with international partners, we are not only responding to the challenges of a full-scale war, but also building the energy independent future of our country," commented Sergii Naumov, Oschadbank Chairman of the Board.

In addition to participating in the state program "Affordable Loans 5-7-9%," Oschad offers more than 30 partnership programs with energy equipment sellers to micro, small and medium-sized businesses, as well as a joint program with the European Bank for Reconstruction and Development with the possibility of a credit cashback. A loan application can be submitted through the OschadBusiness online service.