The Support Program for Farmers Will Be Expanded to Purchase Agricultural Land

Affordable Business Lending Program 5-7-9 will be revised. According to the Minister of Agrarian Policy of Ukraine Roman Leshchenko, the government plans to add lending to this program in order to acquire agricultural land.

This decision was dictated by changes related to the entry into force of the law on the land market. The land market in Ukraine will be officially opened in July 2021.

An extension of the 5-7-9 program should help people who work the land to buy back their plots. The budget includes UAH 1 billion to compensate for the loan rate. The reserve contains funds to secure financial instruments within the land market.

Additional funds should be provided by de-shading of agricultural lands. About 8 million hectares of land are now in the shade, and taxes are not paid on them. Funds from shading will be sent to special development funds and will be used to develop the agricultural sector and provide affordable credit for farmers.