President signed law on ratification of the agreement between Ukraine and the EIB which provides funding for fish farming

13/10/2016

October 13, 2016 the President signed the Law (№1530-VIII) «On Ratification of the Financial Agreement between Ukraine and the European Investment Bank”, which aims to support the agricultural sector, including a separate area it allocated funding entrepreneurs aquaculture and fisheries.

Overall, the agreement provides an opportunity to attract 400 million euros for 12 years with 4-year grace period. Appropriate funds will be spent on modernization of fisheries and aquaculture in Ukraine and implementation of projects in growing grains and oilseeds.

“Once again I want to stress the importance of such agreements with the EU. They are proof that Ukraine’s European choice is unchanged. The money provided by the EIB in the form of credit should spend effectively as a step to leap up, “- said Taras corner.

According to him, the important fact is that credit as a whole will accumulate to agriculture development worth 800 million euros, because the money EIB loans can be up to 50%, the other is part of the expenditures proposed projects should cover or participating banks lending program or borrowers themselves.

“These funds will encourage the development of the industry, we plan to bring to modernize fisheries, aquaculture, for projects on growing grains and oilseeds. We give farmers understand what we know about the problems of the sector and are willing to give a hand where needed, “- said the Minister.

He said the priority of the Agriculture Ministry is helping small and medium farmers in search of capital to improve the conditions of manufacturing value added and search for ways to diversify export destinations Ukrainian quality products worldwide.

Note that the entire program agreement with the European Investment Bank for 12 years, four of which will be favorable for borrowers.

Source: http://darg.gov.ua/_prezident_pidpisav_zakon_pro_0_0_0_3040_1.html