Ukrainian Agrarian Ministry promises low rates on loans for farmers
26.02.2016 19:13 "Agro Perspectiva" (Kyiv) —
While sharing an interview with UNIAN, the Ukrainian Minister of Agrarian Policy and Food Oleksiy Pavlenko said Ukrainian farmers may get access to loans with low rates under a special program of the European Investment Bank (EIB), which is going to allocate UAH10 millird to support the Ukrainian agricultural sector.
«A memorandum with the European Investment Bank (EIB) has been singed at a government level to the tune of EUR400 million, which is almost UAH10 milliard in cheap long-term loans for our farmers,» the Minister admitted.
As to him, the funds will be lent at interest rates that are effective for EU farmers when borrowing loans.
As to the Minister, the Ukrainian Agriculture Ministry is going to provide access to these funds for the farmers within this year.
«These funds will be distributed among the banks, and farmers will be able to take long-term loans at significantly lower interest rates,» Pavlenko said.
Also, he stressed that by granting simplified access to lending, the Ministry tries to compensate for lowing volumes of direct State support to the local agricultural sector, particularly to the livestock producers.