The government is considering regulatory changes to support relocating farms

Опубліковано 2 March 2024 року, о 9:26

Vice Prime Minister Iryna Vereshchuk chaired a special meeting on agricultural business issues during times of war. The meeting discussed regulatory changes.

Due to the war, many farmers who relocated lost their assets in the TOT program and are now unable to meet their obligations under bank loans.

During the meeting, two issues were discussed in particular:

  • The government’s Affordable Loans 5-7-9% program may require extending existing loans to agricultural businesses. This applies to enterprises that have relocated to government-controlled territory.
  • It is necessary to suspend the foreclosure of collateral or pledges for loans during martial law.

The Ministry of Agrarian Policy will work with the NBU, the Ministry of Finance, and the Ministry of Economy to prepare proposals for regulatory changes.

If these changes are adopted, they will help support farmers who have been relocated.

The Vice Prime Minister stated “It is difficult now for farmers who are locked up. Banks should provide support to them.”