The National Bank of Ukraine has approved a third package of changes to support lending to the economy, with a focus on the defence industry and the energy sector. The new rules allow banks to assess collateral and corporate credit risks more flexibly, including for businesses affected by Russian attacks. The Defence Ministry reported this.
One of the key changes concerns companies fulfilling contracts for the security and defence sector. The NBU increased the collateral liquidity ratio from 0.3 to 0.75 for collateral in the form of property rights to goods supplied and services provided under such contracts. This means banks will be able to take into account a larger share of the value of such security when assessing credit risk, the Defence Ministry explained.
“The changes take into account the specifics of defence production: the supply of goods and services under state contracts is an important source of revenue, while defence industry companies do not always have sufficient traditional collateral to obtain a loan,” the ministry said.
Until 1 September 2027, banks will be able to accept goods in circulation or processing as collateral based on their actual balances as of the date of the credit risk assessment. This applies to loans with a term of up to 18 months. The value of the collateral may not exceed the amount specified in the contract. This approach gives companies more opportunities to raise funds against existing inventories and use them for current production needs, the Defence Ministry explained.
The NBU also allowed banks to assess companies’ ability to repay loans more flexibly if their property has been significantly damaged, destroyed, or is located in a mined area. In such cases, banks will be able to take into account forecast indicators of the company’s operating performance. This makes it possible to assess not only the business’s current financial position but also its prospects for recovery. Together with debt restructuring, this approach could make it easier for companies to resume operations, the ministry noted.
As a reminder, in September 2026 the government expanded the programme to support Ukraine’s defence industry. Concessional lending for Ukrainian defence companies was increased fivefold — from UAH 100 million to UAH 500 million. Companies fulfilling state defence contracts will be able to use these funds for working capital at preferential rates of 5–10% per annum, depending on the loan amount.