Ukrainian Economy Ministry pays 18.6-mln-hryvni compensations to agrarians for buying local machinery

MOSCOW. June 26 (Interfax) - The Ukrainian Economy Ministry paid 18.6-million-hryvni compensations to agrarians in May 2024 for buying local machinery, Ukrainian media said, citing First Deputy Prime Minister, Economy Minister Yulia Sviridenko.

The ministry ordered the payment as part of the program compensating for 25% of the cost of agricultural machinery and equipment made in Ukraine under the Made in Ukraine policy, the report said.

"Agrarians are actively using state subsidies compensating 25% of the cost of purchased agricultural machinery made in Ukraine. Ninety-three enterprises and farms filed for compensations in May. The reinstated budget program enables agrarians to renovate their machinery and gives a boost to the development of Ukrainian machine-building plants through the encouragement of demand for Ukrainian products," Sviridenko said.

Most applications filed in May for compensating the cost of agricultural machinery and equipment came from the Cherkassy region (13 applications for 15 machinery pieces), the Poltava region (21 for 34), the Ternopol region (seven for seven), the Dnepropetrovsk region (six for six), the Zhitomir region (five for eight), the Kirovograd region (five for eight), and the Sumy region (five for seven), the ministry said.

Over two months of the program, agricultural enterprises purchased 130 pieces of machinery and equipment made in Ukraine with a total value of 90.4 million hryvni.

An agrarian seeking to use the state support program and to get a 25% compensation for the cost of purchased machinery or equipment needs to choose a supplier from the list on the Economy Ministry website, buy the equipment and submit an application and supporting documents to an authorized bank.

The current list of Ukrainian-made machinery and equipment, the cost of which is partially compensated from the budget, includes 7,878 types of machinery and equipment of 86 Ukrainian manufacturers.

Manufactures wishing to put their products on the list need to send a message to the official email address of the Economy Ministry. The list of machinery and equipment is regularly updated after checking the level of production localization by the manufacturer's application and supporting documents.

As reported, 1 billion hryvni have been allotted for the budget program of partial compensation of the cost of local agricultural machinery and equipment in 2024. The program is part of the Made in Ukraine policy.