Ukrainian farmers to receive state compensation for purchased domestic agricultural equipment

MOSCOW. Oct 28 (Interfax) - Those farmers who purchased Ukrainian-made agricultural machinery and equipment in September 2024 will be granted around 150 million hryvni in compensation from the government, Ukrainian media reported, citing the Ukrainian Economy Ministry's website.

"We continue to support Ukrainian machine building. We signed an order to allocate nearly 150 million hryvni as compensation for those farmers who bought new Ukrainian-made machinery and equipment. We are encouraging demand for domestic products in this way. Currently, the register already includes 133 producers and nearly 11.800 pieces of machinery and equipment. We are hopeful that there will be more of them," Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko said.

The ministry said that the funds would be channeled to 25 authorized banks at the requests of buyers, which were received in September. The largest amounts of compensation will be received by purchasers of machinery via PrivatBank for over 52 million hryvni, Sberbank for 31.8 million hryvni, and ProCredit Bank for 15 million hryvni.

In total, while the program is in effect, over 395 million hryvni have been accrued to farmers (including the current order), in particular, 220,000 hryvni for April, 18.6 million hryvni for May, 66.4 million hryvni for June, 61.5 million hryvni for July, 98.5 million hryvni for August, and 149.98 million hryvni for September.

Over 1,700 farmers joined in the program in 2024 and purchased Ukrainian machinery worth nearly 1.9 billion hryvni.