Oschadbank launches program to buy plant protection products from Japan's Sumitomo Corporation

KYIV. Sept 14 (Interfax-Ukraine) – The state-controlled Oschadbank (Kyiv) has started financing farmers as part of a partnership program with Summit-Agro Ukraine LLC (Kyiv), a representative office of the Japanese manufacturer of plant protection products (PPP) Sumitomo Corporation.

According to a press release from the bank, under the new partnership program, farmers can receive a loan of up to UAH 60 million to purchase plant protection products from Summit-Agro Ukraine. The loan rate will start from 0% per annum when financing is attracted under the Affordable Loans 5-7-9% state program or at a fixed rate of 0.01% per annum with the adaptation of the repayment schedule according to the seasonality of agribusiness.

According to Oschadbank, it currently has more than 290 partners offering machinery, equipment, plant protection products and mineral fertilizers, and continues to attract new business representatives to support farmers.

Sumitomo Corporation operates in the field of global trade and entrepreneurial investment. The corporation carries out commodity transactions in all industries, provides its clients with a variety of financial services, acts as an organizer of various projects and invests in companies to increase their growth potential.

Sumitomo Group consists of approximately 900 companies and employs more than 70,000 people.