This was announced by Serhii Mamedov, Chairman of the Board of GLOBUS BANK.
He explained that this will be facilitated by the Credit Strategy adopted by the Cabinet of Ministers and the results of the Berlin Ukraine Recovery Conference 2024, where about 110 international agreements were concluded, totaling over $16 billion.
The head of GLOBUS BANK emphasized the importance of the signed Memorandum on Lending for Energy Infrastructure Recovery among the major banks, as the signatories commit to developing affordable lending for entrepreneurs implementing projects aimed at increasing the country's energy independence.
"Essentially, the banks were able to agree on unified conditions, a unified approach to lending for energy infrastructure projects, ranging from microloans to €25 million (the Memorandum provides for uniform loan conditions: an initial contribution of 10% to 50% with a term of 5-7 years). According to the Memorandum, Ukrainian banks will finance the construction of solar, wind, biogas plants, bioenergy, gas turbine, and gas piston power plants, the production of industrial battery storage, high-maneuverable, and stored cogeneration, among others.
He noted that as part of the Memorandum on Lending, rates have already been reduced to 13.5% per annum for condominiums and HCCs participating in the "EnergoDim" and "GreenDIM" programs from the Energy Efficiency Fund. These loans are aimed at purchasing, repairing, and installing solar power plants and heat pumps, as well as creating new energy generation at enterprises.
"This step can serve as a stimulus for the significant development of special energy programs and undoubtedly a substantial contribution to the country's energy independence and energy efficiency, as the rates are 35% lower than the average market rates," he said.
Another important factor in the development of lending, the expert believes, is that on July 5, the Government expanded the possibilities of the "5-7-9" preferential loan program to meet the needs of condominiums and HCCs in achieving energy independence. Specifically, the program now covers the purchase of equipment for the generation and storage of electrical energy from alternative sources (solar and wind) at 7% per annum.
Also, a program for lending to individuals for the purchase and installation of solar panels, wind turbines, inverters, and batteries has been introduced: households can receive unsecured loans at 0% for amounts up to UAH 480,000 with a repayment term of up to 10 years.
Regarding small and medium-sized businesses, enterprises will be able to purchase on credit and install solar panels, wind power plants, gas turbine, gas piston, and biogas generation units for amounts up to UAH 150 million with a repayment term of up to 10 years.
In addition, the June reduction of the discount rate to 13% will allow banks to introduce more favorable conditions for auto loans, mortgages, and targeted loans for small and medium-sized businesses, among others.
"Since 2023, the discount rate has already been reduced from 25% to 13%. Accordingly, this easing has become a real 'oxygen' for bank lending: over the past year, interest rates have been significantly reduced under most lending programs. This primarily applies to auto loans, targeted loans for small and medium-sized businesses for the purchase of fixed assets (vehicles, various equipment, and machinery), as well as joint mortgage programs with developers for the purchase of housing in the primary market. As of early July, loan rates are optimal, meaning they correspond to the economic realities of the country. By the end of the year, the volume of auto loans, mortgages, and targeted loans for SMEs may grow within 7-10%, indicating positive economic dynamics in the country," predicts Serhii Mamedov.