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Banking community to provide assistance to the defenders of the Fatherland in relation to their loan obligations throughout a period of military service

The Cabinet of Ministers of Ukraine and the General Staff of the Armed Forces of Ukraine requested the National Bank of Ukraine to explore the possibility of providing assistance to the military servicemen conscripted into the army to fulfill their military duties to the country according to a presidential decree on partial mobilization dated March 17, 2014, so that the defenders of the Fatherland would be able to meet their loan obligations throughout the period of military service. Given the fact that the conscripts perform military service on a battle field, they are unable to meet their loan obligation in a timely fashion and in full.

About 2, 500 military servicemen require help from the banking community.

The staff and the Trade Union Committee of the National Bank of Ukraine, as well as banking associations and commercial bank have answered this request for help. The banking community has suggested several ways of providing assistance to the conscripts, including offering compensation to pay interest charges on loans, partial reduction of interest charge payments due to the bank, and giving the conscripts a deferral to repay principal amount. The form of assistance will be selected individually.

The management team and the staff of the National Bank of Ukraine, as well representatives of the country's banking community supported a request submitted by the government officials and army chiefs asking to provide assistance to the defenders of the Ukrainian land and people so that the military servicemen would be able to meet their loan obligations.

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