Ministry of Agrarian Policy: Ukraine lost 30% of the potential of the agricultural sector due to the war
28.05.2024 - 09:50
As a result of the full-scale war, about 30% of the entire potential of the Ukrainian agricultural sector was destroyed.
The challenges facing the agricultural sector due to the full-scale invasion of Russia are unprecedented, State Secretary of the Ministry of Agrarian Policy Viktor Kantsurak said.
“As a result of the full-scale war, about 30% of the entire potential of the agricultural sector was destroyed, almost 20% of agricultural land was occupied. Large areas are mined or contaminated with explosive objects. Therefore, the issue of providing financing and support to agricultural producers is more relevant than ever. The state agrarian register and the Fund for partial guarantees of loans in agriculture were created precisely for this purpose,” the state secretary emphasized.
According to Inessa Andrietti, a member of the board of the Fund for Partial Guarantee of Credit in Agriculture, a survey of more than two thousand small farmers shows that the majority of farmers plan to expand their production areas and attract investments for this.
“In 2024, 56% of agricultural producers plan to expand production, and 53% of farmers are going to receive investment loans for the purchase of land. These data give an understanding of the extent to which the Fund’s guarantees are in demand among farmers today,” Andreetti said.
The chairman of the board of the Fund, Oleg Prykhodko, spoke about the conditions for obtaining guarantees by agricultural producers and invited banks to join the cooperation.
“We actively cooperate with three banks and plan to attract new financial institutions. This will significantly expand the possibilities for lending to as many interested farmers as possible,” he added.
