Almost UAH 150 million in compensation from the state will be paid to agricultural producers who purchased Ukrainian-made agricultural machinery and equipment in September this year. The Ministry of Economy signed an order to allocate funds to authorised banks, to be transferred to buyers, on 24 October 2024.

"We continue to support Ukrainian engineering. We have signed an order to allocate almost UAH 150 million as compensation for farmers who have purchased new machinery and equipment made in Ukraine. In this way, we stimulate demand for domestic products. The register now includes 133 manufacturers and almost 11,800 units of machinery and equipment. We hope that there will be more of those," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

The funds will be allocated to 25 authorised banks based on buyers' applications received in September. The largest amounts of compensation will be paid to buyers of machinery through PrivatBank (over UAH 52 million), Oschadbank (UAH 31.8 million) and ProCredit Bank (UAH 15 million).

In total, over UAH 395 million has been paid to farmers since the programme's launch (including with the current order being in effect):

• in April - UAH 220,000;
• in May - UAH 18.6 million;
• in June - UAH 66.4 million;
• in July - UAH 61.5 million;
• in August - UAH 98.5 million.
• in September - UAH 149.98 million.

More than 1,700 farmers participated in the programme and purchased Ukrainian machinery worth almost UAH 1.9 billion.

The largest number of applications for compensation for purchased agricultural machinery and equipment were submitted in the following regions: Odesa - 178, Kirovohrad - 170, Poltava - 157, Mykolaiv - 148, Cherkasy - 135, Vinnytsia - 120.

Background information

The state programme of compensation to agricultural producers for the purchase of machinery and equipment manufactured in Ukraine is an important component of the Made in Ukraine policy. The programme helps farmers upgrade their machinery fleet on favourable terms, while the Ukrainian machine-building industry receives an additional incentive for development.

Agricultural producers who have purchased machinery and equipment from the List published on the Ministry of Economy's website can receive compensation. To do this, they need to submit an application and documents confirming the purchase to an authorised bank. An important condition is that a farmer will be eligible for compensation if the value of goods sold by him during the year is at least 75% of the value of goods of his company's own production.

The list of machinery and equipment is regularly updated after the localisation of production is checked. The level of localisation must exceed 60% (40-45% for tractors, harvesters, special equipment, etc.).

For more details please visit the Ministry of Economy official website.