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Cabinet raised agrarians credits compensations
26.06.2008 16:20 "Agro Perspectiva" (Kyiv) —
As to Cabinet Decree ¹ 561 (from Jun 18, 2008), Cabinet has changed procedure of usage in 2008 of financial means stipulated by State budget for Agrarian-Industrial Complex companies support through credits cheapening mechanism. Decree has cancelled restrictions on agrarians credits interest rates for which compensations may be granted. Earlier, agricultural companies could receive on contest basis compensations for short-term credits on condition if annual interest rates amount didn’t exceed 18% for short-term and 17% for medium/long-term credits in national currency as well as 12% for short-term and 11% for medium/long-term credits in foreign currency. As to Decree, Government has fixed maximal compensation amount for agricultural companies which had attracted credits in national currency to construct/reconstruct working facilities, purchase equipment for animals keeping/attendance and purchase pedigree cattle as much as 1,5 of NBU discount rate (foreign currency – as much as 6% annual interest rates).
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