Finance Ministry intends to reduce cost of loans for farmers

Finance Ministry intends to reduce cost of loans for farmers

The Finance Ministry is actively working on developing mechanisms for reducing the cost of loans for farmers, the ministry has written on Facebook page.

"Now the loan rate offered by banks in the current economic situation and the refinancing rate set by the National Bank are too high. Therefore, our task is to find a way to reduce the cost of resources," said Finance Minister Oksana Markarova.

According to her, experts are working on all possible mechanisms for cheapening loans, an analysis of government spending to find opportunities to change existing programs in support of farmers, including for the purchase of land.

also, the Finance Ministry is actively working on introducing additional financial instruments, such as loan repayment guarantees and others to support the financial capabilities of small farmers and medium-sized enterprises.


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