The Cabinet of Ministers has expanded the existing war-risk insurance programme for businesses and simplified the process for obtaining compensation for damaged or destroyed property.
Prime Minister Serhii Koretskyi announced the decision.
“Russia deliberately attacks civilian businesses, warehouses and logistics facilities every day. Businesses are suffering significant losses and need support to recover quickly. In the draft budget for next year, the government has provided a separate allocation for war-risk insurance. But businesses need support today, so we are now expanding the existing programme,” the statement said.
Kyiv and the Kyiv region have now been added to the list of high-risk areas.
Another decision concerns fuel infrastructure. The list of property eligible for compensation in the event of damage or destruction has been expanded to include fuel and vehicles used for its transportation and storage. Agricultural machinery, trucks and trailers have also been added.
In addition, the maximum compensation for insurance premiums has been increased from UAH 3 million to UAH 5 million per year for each company. The mechanism has also been extended to leased property, while requirements for insurance contracts have been simplified.
This week, the government also expanded state support for major projects in the fuel sector, logistics, trade and manufacturing.
Preferential loans can now be used to restore fuel and warehouse infrastructure, modernise manufacturing enterprises and replenish the working capital of wholesale and retail businesses.
The state will compensate 5.5% per annum of a bank’s base interest rate. The maximum limit for a group of related companies is UAH 1 billion.
