Ukrainian banking institutions from the middle of March to May 25, under the government program to support the sowing season 2022, provided loans to farmers for a total of UAH 31.5 billion, including loans and portfolio guarantees for UAH 3.4 billion.
According to the data published on the website of the Ministry of Agrarian Policy and Food of Ukraine, 80% (UAH 20.3 billion) of loans provided were portfolio guarantees, while a total of 13,060 agricultural producers received access to financing (last week it was 1,740).
Most loans for the sowing season were attracted by farmers of Kirovohrad (UAH 4.91 billion), Kyiv (UAH 3.37 billion), Vinnytsia (UAH 2.92 billion), Dnipropetrovsk (UAH 2.52 billion) and Odesa regions (UAH 2.48 billion).
According to the Ministry of Agrarian Policy, loans up to UAH 60 million as part of the support for the 2022 sowing season are issued at 0% per annum (under the government financial support program Affordable Loans 5-7-9%). The term of such lending is up to six months, and after its completion, the interest rate for borrowers will be 5% per annum. Such financing can be used by farmers who fall under the definition of an agricultural producer.
State-controlled PrivatBank (Kyiv) issued UAH 6 billion in loans to 2,300 agricultural producers for the sowing campaign, the bank’s press service reported on Saturday.
“Ukrainian agricultural enterprises and farmers have already received UAH 6 billion of preferential loans for sowing from PrivatBank. Funding for spring work has been provided to 2,300 farms under the state program of preferential lending to agricultural producers,” the report says.
As reported, PrivatBank began issuing agricultural loans under the state support program on March 24. The program provides loans in the amount of up to UAH 5 million without collateral and insurance, as well as interest rate compensation, due to which customers pay 0% per annum with a one-time commission payment of up to 1% of the loan amount.
In order to receive a loan in the amount of more than UAH 5 million, the agricultural producer must additionally pledge agricultural machinery, which will provide at least 20% of the loan amount.
According to the statistics of the National Bank of Ukraine, as of January 1, 2022, PrivatBank ranked first in terms of total assets (UAH 582.85 billion) among 71 banks operating in the country.
Minister of Economy and Finance Daniele Franco confirmed an intention of the Italian government to provide Ukraine with a loan of EUR 200 million, Finance Minister of Ukraine Serhiy Marchenko said in an interview with Italian Corriere della sera following the recent talks in Washington at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank.
“We are negotiating to receive funds on concessional terms: at 1% per annum, with a maturity of 15 years. In my opinion, other countries can also offer us loans on such concessional terms. Such financing would certainly help us,” Marchenko said.
He also thanked Italy, which was the first of all countries to provide Ukraine with EUR 110 million on grant terms at the very beginning of the war unleashed by Russia.
The Ukrainian Finance Minister said that the preparation of an agreement on the next EUR 150 million loan from Germany, which will help support Ukraine’s macro-financial stability, has also recently begun.
According to him, only last week Germany provided a EUR 150 million loan to support small and medium-sized businesses, an agreement on which was reached back in March 2020.
“Minister Christian Lindner also noted that they are considering providing us with military support in the amount of EUR 1 billion, but we expected from Germany no less financial support than that provided to us by the UK, Canada or the United States,” Marchenko said.
According to him, Kyiv has high hopes for funding from the IMF managed account. “We encourage partner countries to consider reallocating 10% of their Special Drawing Rights (SDRs) that they received from the IMF in August 2021 and have not yet used. We are mainly targeting EU countries. However, specific rules should be agreed with the European Union and European Central Bank (ECB),” the Minister of Finance explained.
According to him, the EU countries will consider this issue, as there may be some restrictions on the use of SDRs by the ECB.
“But I think that countries will try to find a legal solution with the ECB to make SDRs available to Ukraine. The IMF is also working with other countries to find out how the allocated SDR quotas can be used to support Ukraine,” the minister said.
As reported, President of Ukraine Volodymyr Zelensky, in his speech at the Spring Meetings of the IMF and the World Bank, indicated that the country needs support of up to $7 billion monthly, and Prime Minister Denys Shmyhal noted that up to $5 billion is needed monthly to cover the budget deficit.
Minister of Economy and Finance Daniele Franco confirmed an intention of the Italian government to provide Ukraine with a loan of EUR 200 million, Finance Minister of Ukraine Serhiy Marchenko said in an interview with Italian Corriere della sera following the recent talks in Washington at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank.
“We are negotiating to receive funds on concessional terms: at 1% per annum, with a maturity of 15 years. In my opinion, other countries can also offer us loans on such concessional terms. Such financing would certainly help us,” Marchenko said.
He also thanked Italy, which was the first of all countries to provide Ukraine with EUR 110 million on grant terms at the very beginning of the war unleashed by Russia.
The Ukrainian Finance Minister said that the preparation of an agreement on the next EUR 150 million loan from Germany, which will help support Ukraine’s macro-financial stability, has also recently begun.
According to him, only last week Germany provided a EUR 150 million loan to support small and medium-sized businesses, an agreement on which was reached back in March 2020.
“Minister Christian Lindner also noted that they are considering providing us with military support in the amount of EUR 1 billion, but we expected from Germany no less financial support than that provided to us by the UK, Canada or the United States,” Marchenko said.
According to him, Kyiv has high hopes for funding from the IMF managed account. “We encourage partner countries to consider reallocating 10% of their Special Drawing Rights (SDRs) that they received from the IMF in August 2021 and have not yet used. We are mainly targeting EU countries. However, specific rules should be agreed with the European Union and European Central Bank (ECB),” the Minister of Finance explained.
According to him, the EU countries will consider this issue, as there may be some restrictions on the use of SDRs by the ECB.
“But I think that countries will try to find a legal solution with the ECB to make SDRs available to Ukraine. The IMF is also working with other countries to find out how the allocated SDR quotas can be used to support Ukraine,” the minister said.
As reported, President of Ukraine Volodymyr Zelensky, in his speech at the Spring Meetings of the IMF and the World Bank, indicated that the country needs support of up to $7 billion monthly, and Prime Minister Denys Shmyhal noted that up to $5 billion is needed monthly to cover the budget deficit.
Japan has promised to increase the volume of loans provided to Ukraine from $100 million to $300 million, Western media reported, citing a statement by Prime Minister Fumio Kishida.
Kisida noted that “support for the Ukrainian economy is an urgent task.”
Earlier Tuesday, Japanese Defense Minister Nobuo Kishi promised that Tokyo would provide Ukraine with masks and clothing capable of protecting against chemical weapons, as well as unmanned aerial vehicles. The cargo will be shipped on commercial flights as soon as it’s ready, he added.
$4.6 billion (EUR4.1 billion) grants and $5.5 billion (EUR5 billion) loans following the Stand Up for Ukraine fundraising campaign will be used to support 4.4 million Ukrainian refugees in European countries and 6.5 million internally displaced persons (IDPs) in Ukraine, according to Global Citizen, one of the organizers of the action.
According to his press release, the European Commission – $1.1 billion, Canada – $80 million, Belgium – $904 million, Croatia – $111 million, Czech Republic – $222 million, Estonia – $0, in particular, announced their commitments and donations. 11 million, Finland – $778 million, Ireland – $58 million, Italy – $400 million, Malta – $0.06 million, Slovakia – $595 million, Sweden – $333 million, Qatar – $5 million.
In addition, the Development Bank of the Council of Europe made a statement on loans in the amount of $1.1 billion, and the European Investment Bank – in the amount of $4.4 billion (they still require the approval of the board of directors).
In addition, the European Bank for Reconstruction and Development confirmed that it will allocate $1.1 billion of a previously announced $2.25 billion package on March 9 specifically for projects in crisis-hit municipalities, the report said.
In a statement from the European Commission, it was previously specified that out of EUR9.1 billion, EUR1.8 billion are intended for internally displaced persons in Ukraine, and EUR7.3 billion for the accommodation of refugees in EU member states and neighboring countries.
Global Citizen points out that the Stand Up for Ukraine fundraising event was organized in partnership with European Commission President Ursula von der Leyen and Canadian Prime Minister Justin Trudeau, with the participation of Polish President Andrzej Duda.
The release also states that companies such as Blue Bottle Coffee, Bridgewater Associates, Cisco, The Coca-Cola Company, Continental Development Corporation, Crush Music, CSL Behring, DocuSign, Farmamundi Foundation, Google, Nestlé, Nespresso have made new corporate commitments. , Twitter, Verizon, The Foundation at Sanofi, Seadream Family Foundation and Sun Life.
In addition, the event was supported by more than a hundred artists, athletes, lawyers and citizens from around the world: Adam Lambert, Aitana, Alec Benjamin, Alejandro Sanz, Alex Len, Alexandra Stan, Andy Cohen, Angélique Kidjo, Annie Lennox, Antytila , Arlo Parks, Ashlee Simpson Ross, Au/Ra, Barbra Streisand, Barenaked Ladies, Bastille, Becky Lynch, Billie Eilish, Billy Porter, Black Eyed Peas, Bobby Weir, Bridget Moynahan, Bruce Springsteen, Carole King, Celine Dion, Chris Isaak , Chris Tomlin, Connie Britton, Dave Matthews, Daymond John, Dead & Company, Drew McIntyre, Dwane Casey, Dylan Dunlap, Ellen DeGeneres, Ellie Goulding, Elton John and David Furnish.
They also include Evan Ross, Fall Out Boy, Finn Bälor, Garth Brooks and Trisha Yearwood, Gelila Assefa Puck, Gloria Steinem, Green Day, Herbert Grönemeyer, Hozier, Hugh Jackman and Deborra-lee Furness, Isha Sesay, Ivar and Erik, Jamala, Jenna Dewan, Jennifer Lopez, Jesse McCartney, Jewel, Jill Vedder, Jim Kyte, Johnny Orlando, Jon Bon Jovi, Jonas Brothers, Juanes, Julian Lennon, Kacey Musgraves, Katie Couric, Katy Perry, Kerry Washington, KD Lang, Lennon Stella, Leon Bridges, Lilly Singh, Liv Morgan, Lola Lennox, Luis Fonsi, Luke Steele, Madonna, MÅNESKIN, Megan Morant, Metallica.
Also on this list are Michael Bublé, Michael Franti & Spearhead, Miley Cyrus, Nicky Jam, Nigel Barker, Nikki A.S.H., Nikolaj Coster-Waldau, Nuno Bettencourt, ONEREPUBLIC, Oprah Winfrey, Ozzy and Sharon Osbourne, Padma Lakshmi, Panic! At The Disco, Pearl Jam, Pharrell Williams, Priyanka Chopra Jonas, Radiohead, Red Hot Chili Peppers, Rita Ora, Rufus Wainwright, Sarsa, Seth ‘Freakin’ Rollins, Shayna Baszler, Shinsuke Nakamura, SOFI TUKKER, Stevie Nicks, Sviatoslav “Svi ” Mykhailiuk, Tame Impala, Thalia, The Lumineers, Third Eye Blind, U2, Ukulele U, Usher, Vito Bambino, Weezer, Within Temptation, Young Leosia, Zucchero and 5 Seconds of Summer.
GRANTS, HELP, LOANS, STAND UP FOR UKRAINE, UKRAINIAN CITIZENS
