A wide range of companies will have access to loans to mitigate the consequences of Russia’s military aggression against Ukraine

Including the amendments, the conditions for large companies to receive support have also been eased. If large companies need to secure financial support for trading activities in energy markets, the loan amount can be increased to cover the liquidity needs arising from these activities over the next 12 months.

At the same time, a condition is included that the support provided under this regulation for the same principal amount of the loan cannot be combined with the support that «Altum» will provide to the merchant in accordance with national regulations in the form of guarantees for liquidity loans in order to reduce the consequences of Russia’s military aggression against Ukraine for the economy, or in accordance with the Regulation of the Cabinet of Ministers dated March 19, 2020 No. 150 «Rules for providing guarantees to business operators whose activities have been affected by the spread of Covid-19» and the Cabinet of Ministers resolution dated March 19 2020 No. 149 «Rules for granting loans to replenish working capital to business operators whose activities have been affected by the spread of Covid-19».

Under the Loan Programme, all economic entities affected by the military aggression in Ukraine (regardless of their area of activity) will be able to apply for support, including companies in the agriculture, fisheries and aquaculture sectors. The maximum loan amount available to entrepreneurs will be up to 3 million euros, but not exceeding one of the following: 15% of the average turnover of business activities during the three preceding completed financial years or 50% of the total energy costs of the 12 months before the date of the loan application or the liquidity needs for the next 12 months for small and medium-sized entrepreneurs or 6 months for large merchants.