Banks Issue Loans To Agrarians Worth UAH 55.1 Billion - Agrarian Ministry

Since the beginning of 2022, a total of 28,807 agricultural producers have attracted loans worth UAH 55.108 billion under the Affordable Loans 5-7-9 program.

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

It is indicated that from June 1 to date, Ukrainian banks have allocated loans to 11,389 agrarians for UAH 16.557 billion.

The leaders in terms of lending for this period are Vinnytsia (UAH 2.671 billion), Kyiv (UAH 2.508 billion), Chernihiv (UAH 1.629 billion), Khmelnytskyi (UAH 1.174 billion) and Sumy (UAH 1.069 billion) regions.

At that, the largest volumes of loans during this time were provided by: Oschadbank (UAH 4.413 billion), Raiffeisen Bank (UAH 3.921 billion), Credit Agricole Bank (UAH 3.022 billion), PrivatBank (UAH 1.634 billion), FUIB (UAH 1.164 billion), Ukrgasbank (UAH 1.022 billion).

"Despite the increase in the NBU discount rate to 25%, banks continue to issue loans to farmers on favorable preferential terms, including under portfolio guarantees, when the agricultural producer needs to cover only 20% of the loan amount with collateral, and the state guarantees the remaining 80% of the bank," Taras Vysotskyi, First Deputy Minister of Agrarian Policy and Food, was quoted in the message.

As Ukrainian News Agency earlier reported, banks issued loans of UAH 38.507 billion to agrarians to ensure a complex of spring field work.