KYIV. Nov 17 (Interfax-Ukraine) – The European Investment Bank (EIB) will issue a loan of EUR 130 million to Ukrenergo for modernization of substations, according to the website of the financial institution.
The corresponding project was approved by the financial institution on November 16.
The EIB said the project is aimed at improving energy efficiency, reliability of equipment, reducing operating costs. Its implementation will contribute to the integration of Ukraine’s energy system with the European Network of Transmission System Operators for Electricity (ENTSO-E).
The total cost of the project is EUR280 million.
As reported, Ukrenergo operates trunk and interstate power grids, as well as carries out the centralized dispatching of the unified energy system of the country. The company is a state enterprise subordinated to the Ministry of Energy and Coal Industry.
KYIV. Nov 17 (Interfax-Ukraine) – The League of Insurance Organizations of Ukraine (LIOU) backs the adoption of the bill amending the law on the specifics of insurance of agricultural products with government support (No. 6355), the authors of which are MPs Ivan Rybak, Hryhoriy Tymish, Mykola Liushniak and Anatoliy Kot (all from the Petro Poroshenko Bloc parliamentary faction), the LIOU has said on its website.
The LIOU believes that the implementation of the bill would provide for economic growth in agricultural production via the introduction of a transparent agricultural insurance tool as an effective tool for risk management, introduction of state planning and regular financing of subsidized agricultural insurance programs in Ukraine.
The LIOU opposes the creation of a state agency for agricultural insurance, as it is outlined in alternative bill No. 6355-1 of MP Fedir Nehoi (Petro Poroshenko Bloc). The league believes that it is inadmissible to elect a representative of the central executive power agency as chairman of the supervisory board of this agency, as this could result in the redistribution of the agricultural insurance market using non-market principles, entail administrative influence and other things.
The two bills were discussed at a meeting of the parliamentary committee for agricultural policy and land relations on November 14, 2017.
KYIV. Nov 17 (Interfax-Ukraine) – OTP Bank (Kyiv) has signed a cooperation agreement with Alfa Smart Agro, a manufacturer of plant protection products and micro fertilizers, in the field of lending to agricultural enterprises.
According to a bank press release, according to the terms of the program, agrarians can get loans from OTP Bank for the purchase of more than 60 types of plant protection agents produced by Alfa Smart Agro at a special rate of 12% per annum in the hryvnia. At the same time, a preliminary decision on financing is made within one day, while credit funds are available on the ninth working day.
The amount of financing can be up to UAH 8 million, and a pledge can be an agrarian receipt or a future crop, as well as the company’s assets.
“We are constantly working to expand the opportunities that Ukrainian agricultural producers can use in the framework of our strategic program of agro crediting OTP Agro-Factory. Now more than 40 farms have benefited from financing from OTP Bank, in particular to purchase raw materials through our partner programs,” head of the Agro-Factory project Ivan Yerko said.
According to him, OTP Bank together with the International Finance Corporation (IFC) implemented a simplified and accelerated approach to financing farmers under the Agro-Factory program, which provides farms that are engaged in growing grains and oilseeds and have the land bank from 500 hectares with access to money for sowing and harvesting campaigns.
