NBU forecasted how much Ukrainians will owe banks under the 'Affordable Loans' program.

According to the National Bank's report on financial stability, the debt to banks participating in the 'Affordable Loans 5-7-9%' program will rise to 10 billion hryvnias by the end of 2023.

This happened due to the depletion of the program's budget since October, the NBU points out.

The program's conditions, updated in April, did not significantly reduce costs. In 2024, only a third of new clients from small and medium-sized businesses were able to obtain loans under this program. The share of such loans in the hryvnia portfolio decreased by 6% to 34%.

The NBU warns that the introduction of new environmental and social standards for banks may complicate the situation, as they will require additional qualifications from financial institutions and their clients.

The regulator also emphasizes that many participants in the program might receive and service loans under market conditions. Therefore, the program should be redirected to support those who truly need it.

There remains significant lending potential through guarantees - about a quarter of the hryvnia portfolio is secured by portfolio guarantees, although banks have used slightly more than half of the available limit.