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.