Ukraine Launches Emergency Aid for Farmers
The government has approved a decision to provide emergency support to Ukrainian farmers who are suffering as a result of Russian attacks in the Black Sea and problems with export routes. Farmers will have expanded access to preferential loans under the “5-7-9%” program. The total amount of available loans could reach 80 billion hryvnia.
The Ukrainian government has decided to strengthen support for farmers amid Russian attacks in the Black Sea and export challenges. To this end, changes will be made to the “5-7-9%” state program. “Today, the government approved a decision on an emergency support package for Ukrainian farmers in response to Russian aggression in the Black Sea and the blocking of export routes,” said Koretsky.
What opportunities will farmers receive?
Following the changes to the “5-7-9%” program, Ukrainian farmers will be able to take out preferential loans to replenish their working capital. This refers to funds that farmers can use for their farms’ day-to-day needs. Specifically, the loans are intended to help farmers purchase everything necessary for fieldwork and keep production running.
The difference between the standard and preferential interest rates will be covered by the government. The total volume of credit available under the program could reach 80 billion hryvnia. According to the government’s plan, this will help farmers maintain production levels and continue exporting Ukrainian agricultural products even amid disruptions to maritime routes.
The government is preparing new measures
Support for the agricultural sector will not end there. The Ukrainian government is also working with the European Commission to secure additional aid and expand the program’s scope. According to Koretsky, the government plans to adopt other measures to support farmers in the near future. “There will also be additional practical measures to support farmers in the near future,” the prime minister emphasized.
In this way, the government plans to help farmers navigate this difficult period marked by export challenges and maintain production. The main tool at this time will be access to preferential financing, and the total credit resources under the program could amount to up to 80 billion hryvnias. Ukrainian Prime Minister Serhiy Koretskyi announced the decision.
In Marhanets, Dnipropetrovsk Oblast, there was no water for several days. President Volodymyr Zelenskyy called the situation shameful and stated that the official responsible for the problem would be dismissed. According to him, authorities at the local and regional levels were too slow to respond to people’s needs.
