Government Changes Terms of '5-7-9%' Program for Farmers

The Cabinet of Ministers has changed the terms of the 'Affordable Loans 5-7-9%' program for agricultural producers, reducing the interest rate on loans for working capital financing from 15% to 10% per annum. The restriction on using only 20% of the loan amount for these purposes has been removed. Now, agricultural producers can direct loan funds towards the purchase of seeds, fertilizers, fuel, rental payments, and other current production expenses without prior limitations. The overall lending limit under the program remains unchanged. The difference between the market rate and the 10% rate that the borrower will pay will be compensated by the state. The changes are explained by the need for farmers to have a larger volume of working capital due to complicated logistics, the blockade of Black Sea ports, a slowdown in exports, and delays in revenue receipt. Farmers will also receive 80 billion UAH in preferential loans due to the Russian blockade of the sea.

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