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Affordable Loans 5-7-9% program ensures record growth of Ukrainian agro-industrial complex – Economy Ministry
KYIV. Sept 22 (Interfax-Ukraine) – The implementation of the business support program Affordable Loans 5-7-9% led to a record growth in the agricultural sector, the development of which reflects the growth of the agricultural production index in January-August 2021, to 8.4%, while since the start of the program in February 2020, Ukrainian agrarians attracted UAH 28.03 billion of financing (45% of the total amount of loans issued), according to the website of the Ministry of Economy.
"The implementation of the business support program stimulates economic growth – GDP is growing and there is a record growth in the agricultural sector. Only in January-August 2021 there was an acceleration in the growth of the agricultural production index – up to 8.4% (more by 2.5% in January-July 2021 against a decrease of 9.8% in January-August 2020)," First Deputy Prime Minister – Minister of Economy Oleksiy Liubchenko said.
According to the ministry, since the start of the program, 38 participating banks have issued 23,680 loans totaling UAH 62.3 billion, including UAH 33.2 billion – anti-crisis loans for replenishment working capital, UAH 21.2 billion – refinancing of the previously received loans, UAH 7.8 billion – loans for capital investments.
The program was most actively used by representatives of the Ukrainian agro-industrial complex, which attracted 45% of all issued funds (UAH 28.03 billion), trade and production accounted for 25% (UAH 15.8 billion), industrial processing – 17% (UAH 10.74 billion). On a regional basis, the leaders are Lviv, Kharkiv and Kyiv regions.
The Ministry of Economy specified that over the past week (September 13-19), banks participating in the program signed 349 agreements worth UAH 939 million.
As reported, the Affordable Loans 5-7-9% state program was initiated by the president of Ukraine and the government to provide broad support for projects of Ukrainian micro and small enterprises.
