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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of August 23, 2022 No. 943

About approval of the Procedure and conditions of partial compensation of interest rate for export loans

According to part eight of article 11 of the Law of Ukraine "About financial mechanisms of stimulation of export activities" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure and conditions of partial compensation of interest rate for export loans which are applied.

2. This resolution becomes effective along with enforcement of the Law of Ukraine of March 24, 2022 No. 2154-IX "About introduction of amendments to some laws of Ukraine concerning ensuring effective functioning of export credit agency".

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of August 23, 2022 No. 943

Procedure and conditions of partial compensation of interest rate for export loans

1. These the Procedure and conditions determine the mechanism of use of the means provided by the Ministry of Economics in the government budget according to the Financial Support of Exporters program, directed to partial compensation of loan interest rate provided under the external economic agreements (contracts) signed with subjects of managing - the Ukrainian exporters (further - export loans).

2. The main manager of budgetary funds and the executive in charge of the budget program is the Ministry of Economics.

3. For receipt of partial compensation of interest rate for export loan (further - compensation) the subject of managing - the Ukrainian exporter (further - the borrower) shall answer the following criteria:

borrower is physical person entrepreneur - the resident or the legal entity - the resident, participants (founders) of which are physical persons or legal entities - residents, including public associations of persons with disability, final beneficial owners (controllers) of which are physical persons - residents;

the borrower is registered in the territory of Ukraine (except temporarily occupied territories);

concerning the borrower proceeedings about bankruptcy are not open, he is not in process of liquidation. The borrower's compliance to the specified requirements is checked taking into account information from the Unified State Register of Legal Entities, physical persons entrepreneurs and public forming;

the borrower has no on 1 date in which the decision on compensation provision, the tax arrears delayed more than six months, charges and other payments in the budget, control of which collection is imposed on bodies of GNS, will be made;

for newly created business (startup) the borrower shall have the business plan on project implementation (to accomplishment of the external economic agreement (contract) on which introduction the export loan is attracted;

the borrower is not carried to legal entities or physical persons to which special economic and other rationing measures (sanctions), are applied by the relevant decisions of the National Security and Defense Council of Ukraine enacted by the Presidential decree of Ukraine concerning application of personal special economic and other rationing measures (sanctions) according to the Law of Ukraine "About sanctions".

4. Compensation is provided to borrowers through the authorized banks which signed with Ministry of Economics and private joint-stock company "Export credit agency" (further - EKA) the Memorandum of general cooperative principles (further - authorized banks).

The memorandum is signed with the authorized banks which are selected according to Procedure for selection of banks through which pension payment, the monetary assistance, payments for obligatory national social insurance and the salary to the employees of budgetary institutions approved by the resolution of the Cabinet of Ministers of Ukraine of September 26, 2001 No. 1231 (The Official Bulletin of Ukraine, 2001, No. 39, Art. 1762 is performed; 2020, No. 6, Art. 278, No. 93, Art. 3004).

5. Compensation is provided to borrowers on condition of export credits insurance of EKA.

6. Compensation is provided to borrowers for the interest for using export loans added and paid in the current year (renewable and non-renewable, except overdrafts (the current account credits) in the amount of 1 (one) discount rate of National Bank operating for accrual date of percent, but it is not higher than the sizes, the provided credit agreements reduced by 5 percent points.

Compensations are subject interest rates on:

to short-term agreements (credits) attracted to replenishment of current assets;

to medium-term agreements (credits) attracted to replenishment of current assets, acquisition of fixed assets of production, implementation of the expenses connected with accomplishment of conditions of the external economic agreement (contract), in particular, for production stages of goods (works, services);

to long-term agreements (credits) attracted to acquisition of fixed assets of production, the equipment for production and conversion of products of goods, services, construction and reconstruction of the production facilities connected with accomplishment of conditions of the external economic agreement (contract), in particular, for production stages of goods (works, services).

Export loans shall conform to the following requirements:

loan term - from 2 to 12 years after delivery of goods (works, services);

credit amount - no more than 85 percent of the amount of the external economic agreement (contract) on which accomplishment the export loan is granted.

Compensation is provided to borrowers taking into account compensation provision to the related persons. At the same time the compensation amount, provided to the borrower and the related persons during the budget period on short-term, medium-term and long-term loans, cannot exceed 5 million hryvnias.

Control of limiting observance of the amount of compensation determined by the paragraph the ninth this Item performs Ministry of Economics.

7. Compensation is not provided to borrowers according to the signed credit agreements, interest for using which are reduced the price at the expense of the budgetary funds provided for other state and regional programs.

In case of establishment by bodies, authorized to exercise control of use of budgetary funds, the fact of illegal receipt of compensation by the borrower, provision of compensation stops from the moment of establishment of such fact and during current and three subsequent budget periods, and money in the amount illegally received returns to authorized bank no later than 30 days from the date of establishment of such fact. The authorized bank within five working days returns the specified funds for the account of Ministry of Economics opened in treasury for their further transfer in the government budget in accordance with the established procedure.

8. Coordinator of realization of provision of compensation is EKA. For this purpose EKA:

generalizes practice of provision of compensation, develops offers on its enhancement;

interacts with authorized banks and borrowers in assistance to provision of export loans and receipt of compensation;

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