Prime Minister of Ukraine Volodymyr Groysman initiated a special program of support for Ukrainian producers by state banks by attracting investment and introducing acceptable crediting conditions to be developed. He said this during a meeting on credit programs for agricultural producers with participation of Government members, representatives of concerned agricultural associations and the leadership of state-owned banks.
"We have gathered 3 months prior to the adoption of the state budget, so that to agree and approve the relevant program", said Volodymyr Groysman. “We must realize that it concerns investing in development and economic growth."
The document is to be drafted by a special interdepartmental working group with participation of representatives of the banking sector. The working group will be headed by First Deputy Minister of Economic Development and Trade Maxym Nefyodov. Firstlings of the group's activities are to be presented to the Government by November 1.
The Prime Minister reminded that the Gov’t plans support for the agro sector in 2018 up to about UAH 7.3 billion, including UAH 1 billion to support farmers and UAH 2 billion to reduce the cost of loans to open new dairy complexes. According to the Prime Minister, in this way the Government lays the foundation for the development of livestock breeding and triggers growth of this agricultural production segment. A separate expenditure item is the continuation of a 20%compensation program designed to cut the cost of agricultural machinery of domestic production.
"This year we have allocated the sum worth UAH 550 million to this program. Now the program enters in effect. If we consider plans for 2018 - this share makes up UAH 1 billion. I believe that the support program will change the structure of the production of machinery, in particular – will entail the reduction of import and promote the localization of production in Ukraine", stressed Volodymyr Groysman.
During the meeting, representatives of the banking sector agreed to a proposal from the Government, told about their vision of the implementation of support programs and expressed their readiness to work in the real sector, especially in the segment of small and medium-sized business.
"The access to reasonable credit resource is viewed as the way to trigger growth. We need to focus on targeted assistance, to elaborate in advance all regulatory acts and starting January to commence implementing of all the initiatives. The objective is to revive the domestic livestock breeding", stressed Volodymyr Groysman.