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The Ministry of Finance Attracted the First Tranche Under a Joint Project with the European Investment Bank to Support Agricultural Enterprises

The Ministry of Finance has started the implementation of the loan program for small and medium-sized enterprises in the agricultural sector under the joint project with the European Investment Bank (EIB) "Ukraine Agri-food APEX Loan".

The Project aims at expanding the access of agricultural enterprises to affordable financing through bank lending, in particular, to comprehensively support added value creation chains in the agricultural sector, namely the processing of cereals and oilseeds, as well as fisheries and aquaculture.

The Project is implemented through a number of commercial banks, selected and agreed jointly with the EIB, which allows allocating credit funds on attractive terms for farmers. Today the implementation of the Project is in an active phase and the first loan agreements of the participating banks have been agreed upon.

"The development of small and medium-sized businesses in the agricultural sector is important to increase the competitiveness of Ukraine's economy and its sustainable growth, as well as to increase exports of agricultural products of Ukrainian manufacturers, the introduction of the best available European technologies and management methods. The Ministry of Finance of Ukraine is actively working to increase the efficiency of state support for farmers and the European Investment Bank funds will help to create the necessary source of their sustainable support through bank lending, "- Deputy Minister of Finance Oleksandr Kava noted.

For reference:

From September 2019, the selection of banks for participation in the Joint Project of Ukraine and the European Investment Bank "Ukraine Agri-food APEX Loan" continues. To participate in the Project, the applicant bank must meet the requirements approved by the Government Resolution dated July 10, 2020 No 606 “Issues of implementation of the Joint Project with the European Investment Bank “Ukraine Agri-food APEX Loan”, and provide an official letter signed by the authorized person indicating the expected amount of funding under the Project together with the documents, the list of which is approved by the above Government Resolution.

Additional information on participation in the Project can be found on the websites of the Ministry of Finance and the Project Coordinator (JSC "Ukreximbank").