Loan repayment deferred for farmers from frontline areas
3 May 2024 18:25
The Cabinet of Ministers has decided to extend state portfolio guarantees for lending to farmers who have lost potential collateral due to the hostilities.
This is stated in the report of the Ministry of Agrarian Policy and Food, "Komersant Ukrainian" reports
According to the government’s decision, farms that received loans before 2022 and are located in the temporarily occupied territories or where active hostilities are taking place can postpone their repayment until 31 December 2025.
Applications from farmers for loan extensions will be accepted through the State Agrarian Register.
“This is a very important decision for farmers, which will allow them to extend loans taken out until 24 February 2022. This will stimulate the development and recovery of the agricultural sector,”
– said First Deputy Minister of Agrarian Policy Vysotskyi.
The Ministry of Agrarian Policy promised to announce the start of applications for support later.
Earlier it was reported that the relocated enterprises were able to extend their loans.
These are the companies that received funds under the Affordable Loans 5-7-9 programme.
The opportunity to extend loans is granted to enterprises whose production facilities as of 24 February 2022 were located in the territories of
- active hostilities (for which the date of completion of hostilities has not been determined);
- active hostilities, where state electronic information resources are functioning (for which the date of completion of hostilities has not been determined);
- temporarily occupied by the Russian Federation (for which the date of completion of the temporary occupation has not been determined).
The loan prolongation period is set no later than 31 December 2025.
