The project of agrarian receipts has allowed farmers to raise UAH 846.6 million thanks to the issue of 101 receipts since 2014 when the pilot project was launched, according to a posting on Ukraine's Agricultural Policy and Food Ministry.

In the 2016/17 agricultural season farmers raised UAH 657.6 million with the help of 41 receipts.

"The tool opens new opportunities for small and medium-sized farmers and confirms its effectiveness. It is planned that project will apply to the entire territory of Ukraine," Deputy Minister Olena Kovaleva said.

She said that at present receipts can be issued in Vinnytsia, Poltava, Cherkasy, Kharkiv, Mykolaiv, Sumy, Ternopil and Khmelnytsky regions.

"During the period when the project was realized since 2014, no forced collection of the debt has been recorded, as all agrarian receipts were closed on a voluntary basis or being implemented," Kovaleva said.

As reported, the ministry is working on the creation of a unified national register of agrarian receipts. This will allow spreading the project all over Ukraine.

The agrarian receipts project in Ukraine is being introduced by a member of the World Bank Group – IFC – in partnership with Switzerland. Practical use of agrarian receipts in Ukraine started in 2014 in Poltava region.

In September 2015 they were expanded to three regions – Kharkiv, Cherkasy and Vinnytsia, and in 2016 four more regions were added – Mykolaiv, Sumy, Ternopil and Khmelnytsky.