Ukrainian farmers get UAH 49B in development loans in 2023

Since year-start, as of September 1, more than 10,000 Ukrainian agricultural enterprises have received a total of UAH 49 billion in bank loans for capacity development.

This was reported by the press service of the Ministry of Agrarian Policy and Food, Ukrinform saw.

It is noted that the largest volume of loans under various programs was disbursed in Kyiv region (UAH 8.46 billion to 745 enterprises), Vinnytsia region (UAH 4.8 billion to 1,162 enterprises), and Dnipropetrovsk region (UAH 4.4 billion to 672 enterprises). In Kirovohrad region, 1,441 enterprises received loans worth UAH 4 billion.

As of September 1, under the government’s Affordable 5-7-9% Loans program, almost 8,000 agricultural enterprises received UAH 29.6 billion in loans.

According to the program, agricultural producers in Kirovohrad region received the largest amount of loans: 1,162 farms received UAH 3.56 billion. UAH 3.12 billion has already been allocated for 929 farms in Vinnytsia region. Also, 601 private faems received UAH 2.8 billion in Kyiv region. In the Dnipropetrovsk region, it was 501 agricultural enterprises that got UAH 2.1 billion.

As Ukrinform reported earlier, the Affordable 5-7-9% Loans program simplifies the access of micro and small businesses to bank lending. Farmers are able to get a loan of up to UAH 90 million. Lending is provided at 5–9% per annum, depending on credit category and business entity.

From September, within the program’s framework, the lending limit for processing agro-enterprises will be increased to UAH 150 million.