Affiliate program by Raiffeisen Bank Aval and Bayer: new conditions bill financing 1%
Kiev. March 14. - Raiffeisen Bank Aval and Bayer are announcing the launch of a new partner financing program "promissory Note at 1%", which offers unique conditions for the Aval of promissory notes* for end users – agricultural enterprises and farmers at only 1%. This was announced today during a joint press conference in Kiev.
Representatives of the agricultural sector can use the new program of bill financing during the agricultural season 2016, buying quality plant protection products from the company "Bayer" on the terms of financing from Raiffeisen Bank Aval – just under 1%.
Given the significant volatility of the exchange rate, this affiliate program from Bayer, Raiffeisen Bank Aval and IFC, a member of the world Bank group, provides for the minimization of currency risk. In addition, the financing period is adapted to the agricultural business cycle (up to 9 months), which makes it possible to finally pay for the purchased products after the sale of the annual harvest.
"Agriculture of Ukraine has an extraordinary potential, and I am very glad that the company "Bayer" offers not only high — quality products and their expertise, but also a profitable financial instrument, which ultimately increases the productivity of agricultural production and competitiveness of Ukraine in the European market", - said Andreas Llohel, head of Crop Science in the Northern black sea region.
"The program of bills of exchange for the agricultural sector in previous years has shown its high efficiency and convenience for all market participants. This financial instrument allows you to optimize the cost of capital, which is especially important in a period of considerable volatility in the market and the high cost of traditional financing. In 2015, the volume of bills of exchange in Raiffeisen Bank Aval increased three times compared to the previous year and amounted to more than one billion hryvnia. The announced program of financing testifies to the significant support of agribusiness, which Raiffeisen Bank Aval continues to provide to farmers for more than 20 years, " said Ruslan Spivak, Director of corporate products and partnerships at Raiffeisen Bank Aval.
"Limited access to financing is one of the most acute problems for farmers today, especially for small and medium – sized businesses. We hope that this new program will help to create an example for other financial institutions as it is possible to provide affordable financing for small and medium — sized businesses in the agricultural sector", - said Elena Voloshina, head of IFC in Ukraine.
More information about the program can be found at this link or by contacting your Manager at Raiffeisen Bank Aval.
* adoption of the Bank's obligation to pay the bill instead of the drawer in case of non-payment of the bill on time
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Bayer: science for a better life
Bayer is an international company with a specialization in life science, namely health and agriculture. The company's products and services are aimed at the benefit of people and improving their quality of life. Bayer is a socially responsible and ethical company that adheres to certain values and benefits society. In fiscal 2015, the Group had approximately 117,000 employees and sales totalled EUR 46.3 billion. The amount of capital expenditures for the year reached 2.6 billion euros, research and development costs amounted to 4.3 billion euros. The above figures also include the relevant data of the high-tech materials division, whose shares were transferred to the stock market through Covestro (6 October 2016). www.bayer.com
Bayer has been operating in Ukraine since 1992. A team of over 500 employees works to provide their innovative products and knowledge in both the life Sciences: health and agriculture. Additional information: www.bayer.ua
Raiffeisen Bank Aval
Raiffeisen Bank Aval was registered on 27 March 1992 and since October 2005 has been part of the Austrian banking group Raiffeisen Bank international AG. As of March 1, 2016, Raiffeisen group owned 68.28% of the Bank's shares, the European Bank for reconstruction and development – 30%.
The Bank offers a wide range of standard and innovative banking services through an extensive network of regional branches, which at the end of December 2015 numbered 578 branches in major cities, regional and district centers throughout Ukraine. Additional information: www.aval.ua
IFC
IFC, a member of the world Bank Group, is the largest global development institution that focuses exclusively on the private sector. Working with over 2,000 businesses around the world, we use our capital, expertise and influence to create growth opportunities where they are needed most. In fiscal 2015, our long-term investment in developing countries increased to about $ 18 billion. The United States, helping the private sector to play a significant role in the global fight against extreme poverty and the broader
the inclusion of people to the General welfare. Additional information: www.ifc.org
In the photo (left to right): Andres Lohel, Elena Voloshina, Ruslan Spivak, Alexei Mityagin.
