Banks Issue Loans To Farmers For UAH 38.5 Billion - Agrarian Policy Ministry

Banks issued loans to farmers for more than UAH 38.5 billion to ensure the implementation of a complex of spring-field work.

This is stated in the message of the Ministry of Agrarian Policy and Food, Ukrainian News Agency reports.

"To ensure the implementation of a complex of spring-field work in 2022, the agrarians of Ukraine as a whole attracted UAH 38.507 billion. On May 31, the acceptance of applications under the Affordable Loans 5-7-9% program was completed, under which funding was provided. Credit funds were attracted by 18,078 farmers. Kirovohrad region (UAH 4.712 billion), Kyiv region (UAH 4.942 billion), Vinnytsia region (UAH 3.289 billion), Odesa region (UAH 2.9 billion), Dnipropetrovsk region (UAH 2.937 billion) became the leaders in terms of the volume of loans issued, in particular, under state guarantees, as well as the number of agricultural producers," the message says.

According to the report, more loans under the portfolio guarantee program were provided by state banks.

Thus, PrivatBank issued such agro-loans for UAH 8.243 billion, Ukrgasbank - for UAH 4.355 billion, Oschadbank - for UAH 2.814 billion, Ukreximbank - for UAH 2.285 billion.

As Ukrainian News Agency earlier reported, farmers receive loans under the program of state guarantees secured by 20% of the amount of credit funds.

The Ukrainian Grain Association (UGA) has raised its forecast for grain and oilseed crops this year by 5.6%, or 3.5 million tons, to 66.5 million tons.

Agrarians collected 106 million tons of grain, legumes and oilseeds in 2021, which is the largest indicator in the history of independent Ukraine.

Grain and leguminous crops were harvested in the volume of more than 84 million tons, oilseeds - 22.6 million tons.