The Verkhovna Rada of Ukraine adopted in the first reading and as a basis the Draft Law No. 9266 "On Electronic Agricultural Receipts". 270 people's deputies voted in favor. The UAC together with the International Financial Cooperation, took an active part in its support and development.

The draft law provides a new financial instrument for lending to agricultural production. In particular, the document introduces electronic agricultural receipts as non-issues of securities in electronic form. At the same time, the law "On Agricultural Receipts" remains in force. Thus, traditional paper agricultural receipts will function at the same time with electronic ones.

The draft law provides for:

• Simplification and reduction of the procedures for issuing, circulating and terminating electronic agricultural receipts compared to traditional paper agricultural receipts.
• Electronic agrarian receipts in the form of an electronic document will be entered into the Register of Electronic Agrarian Receipts. The parties to the contract may issue, transfer or amend the electronic agricultural receipt without the participation of a notary.
• In the event of a debtor's failure to fulfill its obligations, electronic agricultural receipts will receive the status of an enforcement document.
• Pledged items are expanded to include live animals and products of animal origin, products of plant origin, and products of their primary processing.
• In order to eliminate the risks of raiding, prohibition on pledging agricultural land plots is introduced. It also introduces prohibition on debt collection under an electronic agricultural receipt for land plots owned by the debtor.

The UAC thanks Peoples’ Deputies Oleksandr Kovalchuk and Danylo Hetmantsev and all the authors of the Draft Law No. 9266 and is waiting for its prompt consideration in the second reading. In the context of limited bank lending, as well as the lack of own farmers’ funds, it is extremely important to introduce alternative mechanisms for financing the Ukrainian agro-industrial complex.