The Cabinet of Ministers has expanded the war-risk insurance programme for businesses and simplified the process of obtaining compensation. Kyiv and the surrounding region have been added to the list of territories deemed to be at heightened risk.
The list of property for which businesses can receive compensation in the event of damage or destruction has been expanded. Prime Minister Serhii Koretskyi reported this.
“In particular, we are including fuel and the transport used to move and store it. This is an important decision for fuel infrastructure, which remains one of the key targets of Russian attacks. We are also adding agricultural machinery, lorries and trailers to the list,” he said.
The maximum compensation under the insured amount has been increased from UAH 3 million to UAH 5 million per year for a single company. This mechanism has also been extended to leased property, and the requirements for insurance agreements have been simplified.
This week, the Cabinet of Ministers also expanded a support programme for large projects in the fuel sector, logistics, trade and the processing industry. Concessional loans can be used, among other things, to restore fuel and warehouse infrastructure, modernise processing-industry enterprises, and replenish working capital in wholesale and retail trade.
“The state will compensate 5.5 percentage points per year from the bank’s base rate. The maximum limit for a group of related companies is UAH 1 billion,” the head of government explained.
These steps are intended to help businesses already today, and for next year the Cabinet of Ministers has included a separate budget line for war-risk insurance in the draft budget.
- Since 2022, Russia has been deliberately destroying Ukrainian businesses in various regions. This year, as before, it has been striking warehouses belonging to retail chains, filling stations, and enterprises across different industrial sectors.
- Book publishing has been hit particularly hard: market participants stress that without state support, many of them will not be able to recover from the consequences of the attacks and the destruction of products.