On March 10, at a meeting of the Cabinet of Ministers of Ukraine, a resolution was approved that updates the Procedure for the use of funds provided for in the state budget for financial support of activities in the agro-industrial complex by reducing the cost of loans.

The resolution proposes:

– define a transparent procedure for selecting applicants for support;

– clarify the directions of use of loan funds:

– it is possible to receive compensation for short- and medium-term loans to replenish working capital (agricultural producers who were affected by weather conditions and whose loans were restructured by banks will have the opportunity to receive partial compensation for interest on loans);

– medium- and long-term loans taken out for the purchase of fixed means of agricultural production, the implementation of expenses related to the construction and reconstruction of production facilities for agricultural purposes, as well as the processing of agricultural products.

– determine the deadlines for submission of applications by subjects for compensation and registers of compensation payments to borrowers, which are submitted to the Ministry of Economy by authorized banks (until November 1 every year).

The maximum amount of compensation for borrowers engaged in livestock breeding will be UAH 15 million, for other borrowers – UAH 5 million. 

Source: www.agro.me.gov.ua