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Kutovyi discussed with the EIB Vice-President the mechanisms of assistance to small and medium farmer

published 08 December 2016 15:46

During the meeting, the Minister of Agrarian Policy and Food of Ukraine expressed the hope that the loan project with amount of € 400 million for the domestic agribusiness will be implemented as soon as possible and will enable small and medium farmers to make a qualitative leap in the development of domestic agriculture.

 

Taras Kutovyi hold a meeting with Vice President of the European Investment Bank Vazil Hudák.

During the meeting, the Minister of Agrarian Policy and Food of Ukraine expressed the hope that the loan project with amount of € 400 million for the domestic agribusiness will be implemented as soon as possible and will enable small and medium farmers to make a qualitative leap in the development of domestic agriculture.

"I am delighted that our partners have done everything to make the process transparent and expeditious. I hope that our farmers can take advantage of the proposed program, "- said Taras Kutovyi.

As is known, according to the agreement reached, the borrower of resources in favor of Ukraine is the Ministry of Finance of Ukraine.

Ministry of Agrarian Policy and Food of Ukraine provides general supervision and is responsible for the realization of the project, in particular, for the establishment of the Group of projects management.

"The end beneficiary, recipients of funds primarily (at least 70% of a credit) are SMEs", - the Minister said.

Up to 30% of the loan can be distributed between public sector operators, research stations, laboratories, institutions of monitoring and control of fisheries, etc.

Term of loans - 12 years with a grace period of 4 years.

The term of the project - from 2016 to 2020.

The total amount of funds raised in the sector is amounted up to € 800 million Euro, since the terms of the agreement, the EIB’s funds may be only half of the total loans. The rest of loan is provided by the bank – Program participant.

It is expected that the following areas will be financed:

- Primary production of grains and oilseeds;

- The development, modernization and certification of facilities for drying, cleaning, sorting, testing and storage of grain and oilseeds;

- Reconstruction of production facilities of Aquaculture and Fisheries;

- Equipment and infrastructure for fish processing and canning

- Research stations, testing laboratories and equipment for research and training, service for spread of agricultural knowledge and certification, system control and monitoring of fisheries.