According to the preliminary results of the implementation of the state program of financial support for activities in the agro-industrial complex by reducing the cost of loans in 2020, almost UAH 1.05 billion out of UAH 1.2 billion planned for 2020 was compensated to agrarians, the Ministry of Economic Development, Trade and Agriculture said in a statement, published on its website on Tuesday.
“This year, under the program on reducing the cost of loans in the agricultural sector, UAH 24.8 billion were attracted. During the reporting period, more than 4,200 agricultural enterprises took advantage of the program. Due to this additional funding, they were able to update lines for the production and processing of agricultural products, build storages for vegetables, fruits and berries, and cover other production costs,” Minister of Economic Development, Trade and Agriculture Ihor Petrashko said.
According to the ministry, the top five regions in terms of loan compensation included Odesa (UAH 91.6 million), Kharkiv (UAH 71 million), Ternopil (UAH 68.9 million), Vinnytsia (UAH 66.5 million) and Cherkasy (UAH 65.4 million).
The Economy Ministry said that in October this year, the parliament adopted in the second reading bill No. 3295, which allows farmers to receive partial compensation for loans raised to replenish working capital. In pursuance of this law, the Economy Ministry is preparing appropriate amendments in the procedure for the use of funds (resolution of the Cabinet of Ministers No. 300).
As reported, under the budget program of financial support for agricultural producers in the direction of financial support for activities in the agro-industrial complex by reducing the cost of loans in 2020, some UAH 1.2 billion are provided.
Of the total number of authorized banks that signed a memorandum on general principles of cooperation with the Economy Ministry (36 banks), some 33 banks participate in providing compensation for loans.
