LAW OF UKRAINE

of October 31, 2008 No. 639-VI

About first-priority measures for prevention of negative effects of financial crisis and about modification of some legal acts of Ukraine

This Law is aimed at providing constitutional rights of citizens, guaranteeing economic safety of the state, minimization of possible losses for economy and financial system of Ukraine from the financial crisis which covered the most part of industrialized countries.

I. Considering the urgent need of increase in efficiency of activities of state bodies for the financial and credit sphere and for the purpose of ensuring macroeconomic stability in Ukraine:

Article 1. Create through superplanned receipts from privatization of state-owned property in 2008 and receipts of these means in full in 2009, and also target placement of government securities Stabilization fund which means are used in established by the Cabinet of Ministers of Ukraine in coordination with committees of the Verkhovna Rada of Ukraine concerning finance and banking activity and concerning the budget of procedure on:

a) loan granting (loans) for repayment, refinancings and/or servicing of the credits (loans) obtained by domestic bank institutions and other subjects of managing at foreign creditors till September 15, 2008;

b) crediting or joint financing of long-term infrastructure, investment and innovative projects of nation-wide value;

c) reduction in cost of crediting of the projects of small and medium business in particular influencing increase in the employment level of the population;

d) loan granting on completion of construction of housing which is performed with attraction of mortgage loans and which compulsory provision is joint financing from banks and builders;

!) development of the internal demand on the goods made by the Ukrainian producers for export and concerning which deterioration in world environment is observed;

e) provision of financial aid to banks (including for the purpose of increase in the authorized capital), replenishment of the authorized capital of national banks and the Public mortgage institution;

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