NBU revises the rules of the Agro Credit Fund: what will change for farmers until 2026
28 November 2025 15:30
The National Bank of Ukraine has announced the beginning of public discussion of changes to the regulation of the Partial Credit Guarantee Fund in agriculture – a structure that should provide access to financing for small and medium-sized farmers. This is reported by the press service of the National Bank, reports "Komersant Ukrainian".
What the NBU proposes
The draft amendments update the regulatory framework of the Fund in accordance with the law “On rating”. The new wording provides that the Fund will use only those credit ratings that are authorized for use in Ukraine.
In addition, when assessing credit risk, the Fund is obliged to take into account instruments for its mitigation – guarantees and standby letters of credit. This may affect the assessment of the riskiness of borrowers and their chances of obtaining a loan.
Requirement for strategic planning
The document also sets a deadline for the institution itself: by June 1, 2026, the Fund must provide the NBU with an updated business development plan approved by the Fund’s Board.
This may signal the regulator’s desire to ensure transparency and efficiency of the mechanism, which is designed to support the most vulnerable part of the agricultural sector.
The Fund operates against the backdrop of high demand for lending
The Partial Credit Guarantee Fund was established in early 2022 to facilitate access to credit for small and medium-sized farms. Its practical work started in 2024: the first guaranteed loan was UAH 1 mln financing for an agricultural producer from Kherson region.
In a war economy, agrarians are often left without sufficient collateral and need support mechanisms to attract investment. Therefore, the sector’s ability to restore and expand production depends on how effectively the Fund will work.
The discussion of the draft is ongoing. After making possible changes, the document could be approved as early as 2025, with a full update of the Fund’s strategic framework expected by mid-2026.
