Головна Economics and agricultural policy The partial guarantee fund will expand farmers’ access to credit

The partial guarantee fund will expand farmers’ access to credit

The fund of partial guarantee of loans for agriculture will expand the access of small farms to credit resources. This was stated by the First Deputy Minister of Agrarian Policy and Food of Ukraine Taras Vysotsky, reports “ProAgro Group” with reference to the information of the Ministry.

He added that the main criterion for obtaining a loan is a transparent financial activity, paid taxes, official statements, absence of debts.

“The main condition – farmers must own or use no more than 500 hectares of land, and they must specialize in the primary production of agricultural products. The guarantees will be given for the term of the credit agreement, but no more than for 10 years. They will be able to use the obtained funds to purchase agricultural land, machinery, equipment and the like,” said Taras Vysotsky.

He also noted that the farms will cooperate directly with the bank, so it is important to carefully choose the bank with which the farmer or farm is going to cooperate.

The bank in turn will cooperate with the partial guarantee fund. The functions of control over the use of loans will be performed directly by the bank, which issued a loan against the guarantees of the fund.

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