11:25 01.11.2018

Govt diverts UAH 200 mln from livestock support program to cheapening loans for farmers

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Govt diverts UAH 200 mln from livestock support program to cheapening loans for farmers

The Cabinet of Ministers of Ukraine has diverted UAH 200 million foreseen for support of livestock breeding in 2018 to the program to cheapen loans for farmers.

According to an explanatory note to the draft resolution, a copy of which has been forwarded to Interfax-Ukraine, the funds would allow farmers to raise UAH 3 billion of loans.

According to the document, the government also redistributed funds between livestock support programs. The government sends UAH 15 million from the program to partially compensate the credit rates from credits taken to cover expenses in sheep, goat breeding, beekeeping and raising rabbits and other segments to the program to issue subsidies for keeping cows. Thus, the revised estimate for the first program was UAH 185 million and the subsidy for keeping cows – UAH 515 million.

In addition, the Cabinet of Ministers increased funding for the program to compensate for the construction and reconstruction of livestock farms, complexes and enterprises for processing agricultural products by UAH 0.5 billion (to UAH 1.7 billion), while reducing by almost 66% the compensation for loans for such construction (to UAH 400 million).

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