NBU unifies approaches to regulating external loans

NBU unifies approaches to regulating external loansThe National Bank unifies approaches to regulating external loans.

This is stated in the NBU's message, the Ukrainian News agency reports.

The changes concern loans provided by a pool of foreign creditors, which includes an international financial organization (IFO).

Enterprises will be able to service and repay such loans not only in favor of the IFOI, but also in favor of other participants in the loan pool, if they are first-class foreign banks with a rating not lower than "A".

In addition, it is envisaged to grant permission to transfer funds from Ukraine to satisfy recourse claims of foreign guarantors, sureties and insurers who have already paid the obligations of the resident borrower under such loans.

The NBU also continues to implement stimulating currency liberalization.

"First, the list of transactions that resident legal entities can carry out beyond the established restrictions within the investment limit is being expanded - the repatriation of dividends will be added to them. Recall that, having begun the implementation of stimulating liberalization in May 2025, the NBU determined that the investment limit is equal to the amount of funds attracted from May 12, 2025 to the authorized capital of the enterprise from foreign investors from abroad in foreign currency," the regulator noted.

Incentives will also be provided to businesses that support the Armed Forces of Ukraine.

The NBU will allow resident legal entities to carry out a number of cross-border transfers beyond the established restrictions within the amount equivalent to the amounts of funds transferred by them from August 7, 2025 in national or foreign currency to a special NBU account for collecting funds in support of the Armed Forces of Ukraine.

It is envisaged that such transfers may be made exclusively at the expense of the business's own currency for the following purposes:

- settlement by a resident for the import of goods, the delivery of which was made before February 23, 2021;

- return to a non-resident of the advance payment received by the resident to his current account in a bank in Ukraine before February 23, 2022 under a contract for the purchase and sale of goods concluded with a non-resident (for transactions under which the delivery of goods from Ukraine did not take place or was partially carried out);

- fulfillment of obligations under a loan received before June 20, 2023 from a non-resident under a loan agreement concluded between them;

- financing by a resident of the costs of maintaining its branches, representative offices and other separate units without creating a legal entity abroad;

- repatriation of dividends in favor of a non-resident under corporate rights or shares.

In addition, conditions are being created for the conversion of the debt of a resident borrower under an external loan into a non-resident's contribution to the authorized capital of this resident.

In the event of such a conversion, banks will be able to reflect in the AIS "Credit agreements with non-residents" the fact of reducing the term of fulfillment of obligations under external loan agreements.

As the Ukrainian News agency earlier reported, the NBU will allow dividends for 2023 to be repatriated.

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