Cabinet Expands “5-7-9%” Program to Support Farmers

The Ukrainian government has approved an emergency support package for farmers facing the consequences of Russian attacks in the Black Sea. To this end, the Cabinet has amended the state program “5-7-9% Affordable Loans”.

This was reported by Prime Minister Serhiy Koretskyi.

The decision should ease agricultural enterprises’ access to financing amid heightened risks for maritime exports. Russian strikes on port infrastructure and civilian vessels complicate the shipment of Ukrainian agricultural products and increase business costs.

The “5-7-9%” program allows the state to offset part of the interest rate on bank loans. Farmers use such loans to replenish working capital, conduct field operations, purchase equipment, and modernize production.

Before the adoption of the new amendments, the maximum loan amount for agricultural producers under the program was UAH 90 million.

The Prime Minister did not specify in his post exactly which incentives will be included in the emergency package, whether interest rates and maximum loan amounts will change, or which enterprises will be eligible for the updated terms.

It is expected that the detailed mechanism for providing support will be published after the government decision takes effect.