State support for farmers: in September, almost UAH 150 million was compensated for purchased equipment

In September 2024, Ukrainian farmers who invested in domestic agricultural machinery and equipment will receive state compensation of almost 150 million hryvnias. The corresponding order on the allocation of funds was signed by the Ministry of Economy on October 24, directing funding to support the industry and stimulate demand for national production.

According to the press service of the Ministry of Economy, these funds will come through 25 authorized banks to which farmers have applied for compensation. The largest amount of compensation will be paid through PrivatBank — more than 52 million hryvnias, Oschadbank — 31.8 million hryvnias, and ProCredit Bank — 15 million hryvnias.

The compensation program has been in effect for several months, and during this time the support of farmers amounted to over 395 million hryvnias. The amount of payments is increasing every month, from 220 thousand hryvnias in April to almost 150 million hryvnias in September, which shows the growing interest in participating in the program.

During the implementation of the initiative, more than 1,700 Ukrainian farmers were able to purchase equipment for the total amount of about 1.9 billion hryvnias. The largest number of applications for compensation were submitted in Odesa (178), Kirovohrad (170), Poltava (157), Mykolaiv (148), Cherkasy (135) and Vinnytsia (120) regions, which indicates an active demand for the program in regions with a high level of agricultural production

The Minister of Economy Yuliya Svyridenko noted that supporting the domestic production of equipment allows not only to strengthen the economy, but also stimulates the development of Ukrainian manufacturers. "There are currently 133 manufacturers in the register, which offer about 11,800 units of machinery and equipment, and we expect a further increase in the number of national manufacturers," Svyridenko emphasized.

Thus, state support for Ukrainian farmers through compensation for purchased equipment becomes one of the tools for the development of the domestic agricultural sector and stimulation of innovations in the field of agriculture.