The Government Will Financially Support Farmers

Mark Velov Author: Mark Velov Time for reading: ~1 minutes Last Updated: October 04, 2022
The Government Will Financially Support Farmers

In order to provide farmers with financial resources, the government adopted the relevant resolution on compensation of the interest rate on borrowed loans. This was announced by the Minister of Agrarian Policy, Roman Leshchenko.

In order to provide farmers with financial resources, the government adopted the relevant resolution on compensation of the interest rate on borrowed loans .

This was announced by the Minister of Agrarian Policy, Roman Leshchenko.

 

"In the spring, agrarians always need additional financing for the sowing company. In addition, today agricultural producers do not have the opportunity to sell the harvest collected last year for export - as a result, they do not have enough working capital for their activities," he said.

This will be extended exclusively to small and medium-sized agricultural producers with a turnover of no more than 20 million euros per year, which is the equivalent of an enterprise that cultivates up to 10,000 hectares.

 

The aid will provide compensation for the interest rate on the borrowed loans . The maximum amount of the loan , which is subject to interest rate compensation, is up to UAH 50 million. Lending is provided for the implementation of agricultural activities ( sowing ) during the period of martial law.

In order to receive credit, the business entity must also be an agricultural producer in the sense given in the legislation. The term of the loan is 6 months. The maximum amount of the state guarantee for portfolio loans has been established up to 80%.

 

 

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