In May of this year, the Beco Finance (Kherson) credit union first used a financial agricultural receipt as collateral for a loan to a farmer.

The loan was granted to a Kherson agrarian who is engaged in the cultivation of winter wheat, as reported by representatives of the IFC project “Agricultural receipts in Ukraine”. Today it is already the fourth credit union, which used an agrarian receipt as collateral for loans.

The first agrarian receipt was accepted by the union as additional security for the loan. An agricultural entrepreneur already used credit funds, but wanted to increase their amount. He decided to issue an agrarian receipt, said Vitaliy Gavrish, Deputy Chairman of the Board of Bebo Finance.

He added that a few more farmers applied to the union for a loan against an agricultural receipt. Their applications will be reviewed and risks assessed.

As of June 1, 2019, seven loan agreements were executed in Ukraine, in which financial agricultural receipts provided by credit unions were used. The total amount of loans on agricultural receipts amounted to 2.64 million UAH.

Earlier it was reported that Kherson region holds the absolute leadership in the number of issued agricultural receipts in the southern regions of Ukraine.