Ukrainian Agricultural Council Urges Parliament to Support War-Time Lending Legislation
The Ukrainian Agricultural Council (UAC) has called upon lawmakers to back a crucial piece of legislation aimed at assisting agricultural enterprises affected by the ongoing conflict in occupied territories. The draft bill, numbered 11180-1, proposes amendments to Ukraine’s Civil Code regarding lending practices under wartime conditions.
The proposed legislation seeks to suspend loan repayments and collections from agricultural businesses in occupied regions until the end of the conflict, particularly benefiting those who have relocated to areas under Ukrainian control. The UAC emphasizes the critical importance of this issue for farmers striving to sustain their livelihoods in the face of adversity.
Key provisions of the bill include a prohibition on banks from seizing assets belonging to businesses in active combat zones or in territories temporarily occupied by the Russian Federation since late February 2022. Additionally, the draft bill protects individuals acting as guarantors for loans backed by state guarantees or financial assistance from having their assets confiscated.
The UAC asserts that implementing these measures will align civil and consumer lending laws, enabling businesses in previously occupied regions to resume their operations and meet their obligations to creditors. This initiative is deemed essential for supporting farmers who have been adversely affected by the conflict, highlighting the need for urgent legislative action to safeguard the agricultural sector during these trying times.
