Government expands support program for Ukraine's defense industry

The Government has expanded its support program for Ukraine's defense industry, with the goal of scaling up production and increasing the output of Ukrainian-made weapons for the front. Prime Minister Sergii Koretskyi announced the move."We're increasing the maximum amount of preferential lending available to Ukrainian defense companies fivefold — from UAH 100 million to UAH 500 million," he said. "Companies fulfilling state defense contracts will be able to access up to UAH 500 million in working capital at preferential rates of 5–10% annually, depending on the loan amount."Investment loans needed to expand production will be available at 5% annually.The program will operate through the National Development Fund, using budget funds already allocated for this purpose.