Ukraine earmarks 1 bln hryvni for renewal of state program to support agricultural equipment production in 2024 - Economy Ministry

MOSCOW. Jan 9 (Interfax) - The Ukrainian government has allocated 1 billion hryvni to renew a state program for compensating the cost of domestically-produced agricultural equipment in 2024, the Ukrainian media reported, citing the website of the Economy Ministry.

"The program once doubled the share of national agricultural equipment on the domestic market and made it possible to launch the production of new equipment not previously manufactured. Our goal is to catch up with this pace and to encourage not just the production but also active buying of our own agricultural equipment, rather than its foreign analogues, in Ukraine," Economy Minister and First Deputy Prime Minister Yulia Sviridenko was quoted by the ministry's press service as saying.

While the government grant program for processing enterprises was in place, the ministry received 3,086 applications via the Diia website, 650 of which, worth 2.62 billion hryvni, were successful, she said.

The most popular specialties among the program's participants - processing enterprises - are food production, woodworking, manufacture of wood and cork products, except furniture; manufacture of products from straw and plant materials for wickerwork; manufacture of finished metal products, except machinery and equipment; and manufacture of furniture.

In addition, the government financed a 130 billion hryvni credit portfolio through its 5-7-9% program in 2023, Sviridenko said.