Farmers Owning Small and Medium-Sized Businesses to Obtain Soft Loans

farmers

On September 20, 2016, Ukraine ratified the Financial Agreement signed between Ukraine and the European Investment Bank on December 28, 2015 in Kyiv (Draft titled “Primary Loan of Agricultural Industry – Ukraine”).

Pursuant to this Agreement, Ukraine represented by the Ministry of Finance of Ukraine is a recipient of the loan and with contribution from the Ministry of Agrarian Policy and Food of Ukraine and in cooperation with Ukreximbank PJSC will provide financial resources to commercial banks.

On a short-term horizon, the banks will be selected which will then be followed by conclusion of contracts therewith.

It is expected that implementation of the Agreement will allow bringing UAH 400 million of loan for the farmers of small and medium-sized businesses. The funds will be used for the projects aimed at grain and oil crop growing, modernization of fish farms and aquaculture in Ukraine.