Since the beginning of the year, Ukrainian farmers have raised almost 3 billion UAH of credit funds, which is 908 million UAH more than in the same period last year, Agricultural Policy and Food Minister of Ukraine Mykola Prysiazhniuk said.

"Ukrainian farmers continue to attract credit resources for the needs of their own businesses. And this is a necessary source of funding for domestic agricultural production. Thus, according to the latest reports from the regions, as of March 29, farmers raised 2.9 billion of credits, that is, by 908.1 million UAH more than by the same date in 2012. In all, 910 agricultural enterprises used credit funds," the ministry's press service quoted Prysiazhniuk as saying.

The minister informed that the largest amount of loans were drawn by agricultural enterprises in Mykolaiv (UAH 368.3 million), Dnipropetrovsk (UAH 317.9 million), Kyiv (UAH 231.7 million) and Kharkiv (UAH 219.3 million) regions.

Prysiazhniuk also added that farmers have intensified raising funds to finance the spring field work. Of the total capital raised, bank loans make about 2 billion UAH.

"It's nice to note that precisely agricultural companies show high loan return rates. They return 95% of all loans taken in commercial banks and credit unions. Of course, it is a very high indicator. So it is profitable to lenders to work with farmers," the minister said.

Ukrinform