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Status of the project “Crop receipts in Ukraine”

On 9 June 2016 Agroprosperis Bank, the partner of the project "Crop receipts in Ukraine" of International Finance Corporation, participated in the meeting of the working group on crop receipts, dedicated to the status and prospects of the project.

The event was held with the participation of official representatives of the Ministry of agrarian policy and food, Ministry of justice, Ministry of Finance, the National Bank of Ukraine and the State Enterprise "Agricultural registers".

During the meeting participants reviewed the status and the results of implementation of crop receipts in Ukraine, discussed existing obstacles to their full implementation and identified next steps and priorities for implementation of the project.

In the eight months since the official launch of the project "Crop receipts in Ukraine” significant progress has been achieved - a number of regulations on operation of crop receipts have been adopted, a national register of agricultural receipts has been launched, a large number of informational and educational events for farmers and notaries have been conducted.

Thanks to the hard work of the International Finance Corporation, project partners and representatives of the government, crop receipts are becoming increasingly common, and only in recent months nearly 50 crop receipts with a total amount of about UAH 100 million have been issued.

The next important steps of the project, identified by the participants, are the development of a full national register of crop receipts, improvement of the mechanisms of taxation and banking operations with crop receipts, as well as the enforcing of crop receipts.

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