KYIV. April 12 (Interfax-Ukraine) – Bank Credit Dnepr, chemical concern BASF and Bershad Agroplus distributor with advisory support of the International Finance Corporation (IFC) have created a joint credit program for farmers who will be able to buy BASF plant protection agents, bank Credit Dnepr has said in a press release.
According to the report, the new credit product will work on the basis of the innovative digital platform created by IFC experts jointly with partners. The new platform allows revising the approaches to assessment of risks and reducing spending on the resources. Producers would be able to receive financing within three working days at the grace credit rate.
Bank Credit Dnepr told Interfax-Ukraine that the credit could be issued for one agricultural cycle with an agrarian receipt.
“Our task is to help to provide farmers with financial tools suiting the specifics of their business and allow effectively solving major problems. Our new program would become another step in operation of IFC in Ukraine aiming at the increase of effectiveness and profit-making in agribusiness,” IFC’s Europe and Central Asia Agri-Finance Program Manager Leah Soroka said in the press release.
According to the report, managers of Bershad Agroplus will assess a credit risk at the site where agricultural companies are located. The producers will receive a preliminary decision on the credit at once after providing all information.
“Our plans are to continue jointly with IFC the modernization and improvement of the technological platform to have quicker process of considering applications by bank specialists. We have been working in the agribusiness sphere for more than one year and see the needs of our clients. Among the key demands is the speed of decision making. Farmers do not have time to wait for a decision for weeks due to the seasonal character of its work. One of our key tasks for today, along with the restoration of the acceptable crediting, is the creation of as quick as possible mechanism for providing credits,” the press service of the bank said, citing Deputy Board Chairman Andriy Moiseyenko.
Bank Credit Dnepr was founded in 1993.
Bank Credit Dnepr ranked 21st among 93 Ukrainian banks on January 1, 2017 by total assets (UAH 8.279 billion), according to the National Bank of Ukraine.
