Dynamics of bank lending to priority sectors through the prism of state-targeted support programs

Abstract

The intensification of macroeconomic instability and structural shifts in the economy underscores the need to mobilize bank lending to strategically important sectors. State-targeted support programs play a significant role in stimulating financial flows, reducing credit risks, and ensuring the sustainable development of specific types of economic activity.

The purpose of the study is to analyze trends in bank lending to priority sectors of the economy under the influence of state stimulation instruments and to assess the effectiveness of support programs for enterprises operating in these sectors.

Methods of analysis and synthesis were used to generalize theoretical provisions; the statistical method was applied to assess lending dynamics; comparative analysis was used to identify structural changes; and the graphical method was used for the visual presentation of results. The information base includes official statistical data and analytical materials.

An increase in bank lending volumes to enterprises in the industrial, agricultural, and energy sectors, identified as priority areas of economic recovery, has been observed. A redistribution of banks’ loan portfolios has also been recorded, with a growing share of manufacturing sectors in the total volume of corporate lending. The impact of partial guarantee mechanisms and interest rate compensation on reducing risks for financial institutions and improving access to borrowed resources was substantiated. Constraining factors were identified, including war-related risks, limited borrower solvency, and institutional constraints.

State-targeted programs act as an effective instrument for activating lending processes and structural transformation of the economy. Further development of state credit support instruments requires improving the targeting of state funding programs, enhancing transparency in the utilization of financial resources, and expanding access to bank lending for enterprises operating in strategically important sectors of the economy.