KYIV. Oct 7 (Interfax-Ukraine) – The Agricultural Policy and Food Ministry of Ukraine plans to raise EUR 400 million from the European Investment Bank (EIB) to develop projects in the agricultural sector.
“I hope that on October 23 we will sign the [agreement on] financing of EUR 400 million with the EIB in Germany during the forum, which would come via banks. We need cheap and long-term money,” Minister Oleksiy Pavlenko said in an interview with Interfax-Ukraine.
He said that the ministry is currently participating in discussion of the draft budget for 2016.
“Now, jointly with the Finance Ministry, we’re seriously working on support of agriculture. There is no position of the parliament on VAT. Our position in the issue is the following: if you want to remove something, we should offer something more adequate,” he said.
Pavlenko said that there are subsidies per hectare in European countries, and if the VAT regime is revoked, other options to support should be considered, for example, support for small and medium sized businesses via compensation of credit rates, support for livestock breeding, vegetable storage facilities and greenhouses.
