The Verkhovna Rada of Ukraine registered the Draft Law No. 9352 "On Amendments to Certain Legislative Acts of Ukraine to Create Conditions for Attracting Funds for Agricultural Production". The Ukrainian Agri Council "UAC" together with the International Finance Corporation initiated and actively participated in the development of the draft law, its discussion with major agricultural producers, banks, and other creditors of the agricultural sector.

The purpose of this draft law is to create conditions for attracting additional funds for agricultural production by increasing the attractiveness of agricultural receipts for potential creditors, and to regulate certain issues of state support for agricultural producers and WUOs.

This goal is achieved by:

  1. inclusion of WUOs and agricultural entities in the State Agrarian Register;
  2. enabling the provision of state support for the restoration, reconstruction and construction of various reclamation system facilities, not just pumping stations;
  3. expanding the list of types of collateral that may arise on the basis of an agricultural receipt without the need to enter into separate agreements, including the transfer of land lease rights as collateral;
  4. granting WUOs the right to order technical documentation on land management in relation to land reclamation networks and their components of land reclamation networks without the need to obtain the consent of local governments or local state administrations.

The UAC will continue to support the draft law "On Amendments to Certain Legislative Acts of Ukraine to Create Conditions for Attracting Funds for Agricultural Production" and believes that it will allow:

  • expand the areas of state support for WUOs;
  • resolve legislative obstacles to the creation of WUOs;
  • strengthen the reliability of agricultural receipts as a financial instrument that will expand the range of creditors able to finance Ukrainian agriculture and increase the amount of available loans for farmers.
  • introduce the right to lease agricultural land into commercial circulation, which will increase the amount of collateral for attracting credit resources.
Tuesday, 6 June 2023

 

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