“Made in Ukraine”.Photo: minfin.com.ua
Ten more banks have joined the Made in Ukraine initiative as part of the programme of partial compensation for the cost of machinery and equipment manufactured in Ukraine. Relevant memoranda of cooperation were signed with the Ministry of Economy of Ukraine, which opens up new opportunities for Ukrainian entrepreneurs. This was reported by TimeUkraineIsrael with reference to the Ministry of Economy of Ukraine.
Expanded opportunities for Ukrainian entrepreneurs
Through this programme, Ukrainian consumers of machinery and equipment, including buses, trucks, elevators, transformers and other devices, can apply for compensation of 15% of the cost of the purchased products. This brings the total number of financial institutions participating in the programme to twelve, enabling entrepreneurs and manufacturers to modernise their production facilities and contribute to the country’s energy independence.
Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy, noted that this initiative contributes to the development of Ukrainian industry by providing access to the necessary equipment.
List of banks participating in the programme
The following banks currently participate in the programme to compensate for the costs of domestically produced machinery and equipment:
- PJSC “BANK VOSTOK”
- JSC “SKY BANK”
- JSC “ProCredit Bank”
- JSC OTP Bank
- JSC “PIRAEUS BANK MCB”
- JSC JSB Lviv
- PJSC “UKRGASBANK”
- JSC “ACCENT-BANK”
- JSC “AB “RADABANK”
- PJSC “MTB BANK”
- JSC “Bank Credit Dnipro”
- JSC BC GLOBUS
Conditions of participation in the programme
Entrepreneurs wishing to receive state support must pay for machinery and equipment through one of the authorised banks and apply for compensation, attaching a copy of the payment document and an acceptance certificate.
Compensation is paid through accredited banks that:
- The applicants’ documents confirming the purchase are checked.
- They send the lists of applicants to the Ministry of Economy for further verification.
- Open accounts for transferring funds.
- The compensation is transferred to the buyers’ accounts.
Manufacturers wishing to include their products in the programme must submit an electronic application to the Ministry of Economy, providing information on the level of localisation, cost, technological processes, and the share of labour costs. After verification, the products will be included in a public list, which will be used to provide information to banks for the programme.
Deadlines and funding
Compensation for goods purchased before 1 December 2024 can be received this year if the application is submitted by 5 December. For equipment purchased after 1 December, compensation will be accrued next year. Funding depends on the order in which applications are received and the availability of the budget.
Thanks to this initiative, Ukrainian entrepreneurs receive strong support to modernise their production facilities and increase their competitiveness in the domestic and international markets, which in turn helps to strengthen the country’s economy.
