The All-Ukrainian Agrarian Council Urges MPs to Support Bill on Lending During Wartime
The All-Ukrainian Agrarian Council (VAAR) has appealed to members of parliament to support an important bill for agricultural enterprises affected by the conflict in occupied territories. The draft law, No. 11180-1 dated May 2, 2024, proposes amendments to the Civil Code of Ukraine related to lending during wartime.
The proposed document aims to freeze the collection and payments on loans from agribusinesses in occupied regions until the end of the war, especially those who have relocated to territories controlled by Ukraine. VAAR highlights the significance of this issue for farmers.
The bill includes provisions that prohibit banks from seizing assets of businesses in areas of active hostilities or temporarily occupied territories by the Russian Federation as of February 24, 2022. It also prevents the seizure from individuals serving as guarantors for loans supported by state guarantees or financial assistance.
VAAR emphasizes that implementing these measures will help align civil and consumer lending laws and enable businesses in previously occupied territories to resume operations and meet obligations to creditor banks. This initiative is crucial for supporting farmers affected by the conflict.
