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Crop receipts in Ukraine: steady progress due to active international cooperation

20 April 2016 in Vinnitsa the participants of the project "Crop receipts in Ukraine", in particular the representatives of International Finance Corporation (IFC, World Bank Group) and Agroprosperis Bank, met with the members of the Swiss State Advisory Committee on international cooperation and the Swiss State Secretariat for Economic Affairs (SECO).

The parties discussed the status of the implementation of crop receipts, track record, and also shared practical experience in the use of this instrument, from viewpoint of the lender, as well as the farmers.

The first crop receipt was issued in the Poltava region in February 2015 and already for today 29 crop receipts have been issued for total amount of UAH 77 million. The better half of them was signed by Agroprosperis Bank.

"Agroprosperis Bank is the first and so far the only Ukrainian Bank which provides financing to farmers against crop receipts. The Bank actively participates in realization of this project and considers it a priority to simplify and improve access to financing in the agricultural sector", - said the Chairman of the Board Serhii Shchepanskyi.

Recall that on 13 October 2015 The World Bank Group and the Swiss State Secretariat for Economic Affairs (SECO) officially launched a program for implementation of crop receipts as a new financial instrument for Ukraine that will open access to financial and material resources for small agricultural enterprises.

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