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Problems concerned with short-term crediting of agrarian and industrial complex are solved today on 70-80 % — think experts of the JSPPB "Aval"
— Кредит&Депозит
Problems concerned with short-term crediting of agrarian and industrial complex are solved today on 70-80 %, reported the Bank press service with reference to the leading expert of sector for monitoring of crediting analysis of the JSPPB Andrey Burlaenko.
According to him during last years both government and commercial banks have being taken a number of positive measures on arrangement of appropriate conditions for effective financial and credit security of agrarian sector, in particular budgetary support by way of preferential crediting of agrarian and industrial complex, improvement of system of property pledging. As a result of it banks became more interested in crediting of agricultural sector of economy.
As he said, a number of measures which have been taken by the government on reduction in the cost of credits gave an opportunity to attract in agrarian sector much more volumes of credit resources. So in 2002 the total amount of credit investments in agrarian and industrial complex exceeded 5 billion hryvnas whereas in 2001 this showing made up 3 billion hryvnas. In its turn the increase in volumes of crediting had a positive impact on productivity of agrarian and industrial complex; gross production of agricultural products increased, crop production and cattle breeding became stronger. In agriculture the formation of critical mass of the capital for extended reproduction has already started.
At the same time, as A.Burlaenko stressed, there is still an unsolved problem concerning medium-term and long-term crediting of agrarian and industrial complex, necessary for restoration of basic funds of agricultural enterprises and logical continuation of the processes already started. As of today the flow of investments in agrarian sector is slowed down by the absence of necessary mortgages and land market. In his opinion, to satisfy agrarian needs in long-term credits, it is necessary to develop a proper system and first of all solve these problems on legislative level.
As A.Burlaenko reminded, in accordance with transitional regulations of the Land Code of Ukraine, starting from January, 1 2005 the moratorium on sale of farming lands is to be called off, and that should stimulate development of land mortgage. A.Burlaenko reckons that this will promote increasing in crediting volumes for agrarian and industrial complex. "For today it is hard to forecast the impact of this factor since we have a lot of time ahead", — the expert announced.
According to him, today Ukrainian banks are easily granting credits for a term of 2 or 3 years on the security of enterprises producing processed products (processing of sunflower, milk, sugar) as they know these enterprises are rather liquid. "But if farming land will be put on sale and could be taken as a pledge then bankers will be much more interested in crediting agrarians and the last will be able to take long-term credits on the security of land for modernization of fixed assets which are obsolete or even entirely absent in the majority of agricultural enterprises today", — said A.Burlaenko.
За матеріалами: Райффайзен Банк
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