Raiffeisen Bank’s agro clients can get a compensation of 25% of the agricultural machinery and equipment cost under government program
Raiffeisen Bank joined the government program “Partial compensation to farmers for the cost of purchased Ukrainian agricultural machinery” as an authorized bank by signing the respective Memorandum with the Ministry of Economy of Ukraine.
Agricultural producers that are Raiffeisen Bank’s clients can be compensated 25% of the Ukrainian agricultural machinery and equipment cost, which may be purchased with credit or own funds.
The program applies to the machinery supplied by manufacturers/dealers from an updated separate list of companies accredited with the Ministry of Economy.
Raif’s clients that are legal entities and entrepreneurs meeting the program criteria, according to the CMU’s Resolution, can take advantage of the opportunity.
“Both the agro clients and the machinery manufactures and suppliers have been looking forward to this event for a long time: while the former get support as a compensation for a material part of the machinery’s cost, the latter are supported by incentives for the purchase of machinery manufactured in Ukraine”, said Larysa Bondarieva, the Deputy Chairman of Raiffeisen Bank’s Board.
The agricultural producers should take the following steps to be compensated 25% of the purchased machinery or equipment cost (VAT excluded):
- Choose the manufacturer/supplier and the respective machinery from the list on the website of the Ministry of Economy;
- Purchase the necessary machinery from the manufacturer/supplier with own funds or credit funds provided by Raif. If the machinery was purchased earlier, check whether the manufacturer/supplier and the equipment were in the list that was up-to-date at the time of purchase;
- File an application and the supporting documents to the authorized bank via which the machinery was paid for, in particular Raiffeisen Bank.
The deadlines for the filing of applications for the compensation are as follows:
- December 5 of the current year for the machinery purchased before December 1 of the current budget year;
- April 1 of the current budget year for the machinery purchased on or after December 1 of the current budget year.
Raiffeisen Bank files the respective register to the Ministry of Economy on a monthly basis.
The agricultural producers receive the compensation after the register’s approval by the Ministry of Economy of Ukraine and the crediting of government funds to the bank, which, in its turn, sends the funds to the clients.
