Government to compensate damages to affected entrepreneurs

Government Commission on the Elimination of Consequences Caused by Unrest in Certain Regions approved the Mechanism for Compensating Damages to SMEs. Funds from the Government's reserve will be directed to local executive bodies for making payments to business entities.

The damage will be compensated for real estate, movable property, as well as for lost (stolen) inventory items.

Compensation for damaged real estate will be carried out on the basis of a confirmed estimate documentation. For damaged or destroyed movable property and inventory items, compensation will be made according to an assessment prepared by appraisal and audit companies determined by the akimat and / or the ‘Sila v Edinstve’ Fund for Supporting the Affected Business.

The amount of compensation for lost (stolen) inventory items will be determined on the basis of supporting documents, and in their absence, in the form of the average monthly turnover of a business entity for 2021.

To compensate for the cost of lost or damaged property, it is necessary to submit an appropriate application on the platform.

The assessment of damage and determination of the amount of the recoverable value will be carried out by the regional commissions for determining property damage and the commissions for considering applications from the ‘Sila v Edinstve’ Foundation.

Applications of entrepreneurs will be considered within 5 calendar days, if approved, the relevant funds will be transferred to the applicant.

Payments to entrepreneurs are scheduled to begin in February 2022.

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