Ukrainian citizens and businesses to get cheaper loans in Lithuania

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.

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