News
20.06.2010
Ukraine: Ministry of Agrarian Policy offers to reform the Agrarian Fund and Ukragroleasing
The Ministry of Agrarian Policy offers to reform the Agrarian Fund and the National Joint Stocks Company “Ukrainian Agrarian Leasing” (Ukragroleasing) into the Agrarian Financial Fund (Agrofinfund) and the Agrarian Financial Leasing (Agrofinleasing), respectively, and give them the functions of the crediting instrument of agrarian companies.
The conception of the complex state program for agriculture reforming and development of Ukraine foresees such development, which Nikolay Prysiaghniuk, the Ministry of Agrarian Policy, presented on June 16.
According to the document, the Agrarian Fund will be reformed into the instrument of short-term crediting (in one-year term). Agrofinfund will provide cheap financial resources. The program conception also foresees the crop list extension, which the Agrarian Fund will take in pledge, especially including barley, sunflower seed, maize, rapeseed and soybean.
According to the initiative of the Ministry, Ukragroleasing may be reformed into the instrument of long-term and medium-term crediting (3-7 years).
Agrarian companies will be able to get credits in the view of machinery, equipment and “key-ready” technology projects from the Agrarian Financial Leasing.
The Ministry of Agrarian Policy offers to cancel the dotations, and also to annihilate the program of reducing the rate of interest of commercial banks at the gaining credits for agrarians, in order to finance Agrofinfund and Agrofinleasing.
