An agency for lending to farmers will be created in Ukraine


An agency for lending to farmers will be created in Ukraine

04/06/2018

To provide farmers with loans in Ukraine, they plan to create a State Financial Agency. This was announced by the First Deputy Minister of Agrarian Policy and Food of Ukraine Maxim Martynyuk.

80% of farmers borrow money in credit unions, and not in banks, which negatively affects the financing process.

According to the official, the appearance of the agency will lead to a decrease in the cost of loans.

“The state should provide farmers financially, it should be long and cheap money – 3% per annum and 30-year loans. For this, we plan to create the State Financial Guarantee Agency, which will act as the guarantor of such loans, ”Martyniuk said. In the event of a default, the state partially takes on the obligations of the borrower, and then the banking segment is more willing to do this (lending to farmers), “Martyniuk explained.

Source: agropolit.com

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