Ukrainian citizens and businessmen willing to start their business in Lithuania will be able to get 30 percent cheaper loans for business start-up or working capital, the country’s Ministry of the Economics and Innovation says.
“We are giving the Ukrainians the opportunity to get loans with 30 percent lower interest rates for starting a business. This will make it easier for them to settle in our country, relocate their business or find new areas of activity and create new jobs,” Minister Ausrine Armonaite said in a statement. Low-interest loans will be available to small and medium-sized businesses established after February 24, when the Russian invasion of Ukraine started, and whose shareholder, partner or owner is a natural or legal person with Ukrainian citizenship and a residence permit in Lithuania, as well as to entrepreneurs with Ukrainian citizenship who received residence permits in Lithuania after February 24. A loan of up to 3 million euros for up to 10 years will be available for business start-ups and up to 200,000 euros for up to three years for working capital.