Ukrainian Farmers to Get More Financing through Crop Insurance Guarantees with USAID Support
UNIVERSALNA Insurance company, PrivatBank and the United States Agency for International development (USAID) are teaming up to launch a program to support micro, small and medium-sized agribusinesses. The program will provide some UAH 572 million in additional financing for the agricultural sector during the 2023 season, using future harvest insurance as collateral for bank loans.
The goal is to expand access to finance for Ukrainian farmers and agricultural companies by reducing the bank's credit risk. Ukrainian farmers and agricultural enterprises will be able to receive preferential bank loans from PrivatBank guaranteed by the future crop insurance from PJSC IC UNIVERSALNA. USAID will provide grant funds to purchase the crop insurance. The new program is expected to generate additional financing for about 220 small agricultural producers with an average loan amount of UAH 2.6 million. The farmers will also benefit from the risk-reducing features of crop insurance.
Do you need advice on this loan program? 067 406 02 75
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UNIVERSALNA is an insurance company that is part of the Fairfax International Group (Canada, Toronto).
Date of publication: 13.09.2023
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