The international science and technology company Corteva Agriscience, together with PrivatBank, Ukraine's leading bank, is offering Ukrainian agricultural producers partnership financial programs designed to provide more accessible financing for the purchase of advanced seeds and innovative crop protection products.
Within the scope of this cooperation, agricultural producers will have access to several financial instruments that allow them to optimize cash flows, obtain payment deferrals, and take advantage of preferential lending terms. The first area is working capital financing. Under this program, farmers can purchase Corteva products on 100% prepayment terms using credit funds, with a subsequent deferral of payments for a period of 1 to 12 months. Interest rates remain preferential and can start from 0.01% per annum for financing terms of 1 to 4 months. Another instrument is bill of exchange avalization, which allows agricultural producers to make purchases with a payment deferral of 6 to 9 months. The avalization service is provided by PrivatBank at a favorable rate of 1% of the bill amount, which significantly reduces the financial burden on the business.
As part of the partnership, product purchases are made on the basis of separate purchase and sale or supply agreements directly between the client and Corteva for seed purchases, or with distributors when purchasing crop protection products. Payment can be made in full or in part using credit funds directed directly to the supplier's account. At the same time, PrivatBank independently analyzes clients and makes decisions regarding the provision of financing or bill avalization in accordance with its own internal procedures and criteria. This ensures transparency and compliance of financial products with current legislation and market conditions.
"Corteva works hard side-by-side with farmers, supporting them in every possible way in their work to ensure food security for the country and the world. The company is constantly looking for new ways to support Ukrainian agricultural producers, providing not only innovative products but also effective financial solutions in partnership with leading banks. Cooperation with PrivatBank, which has an extensive network of branches, opens up additional opportunities for the development of agribusiness and increases its resilience," noted Olena Dunina, Finance Leader at Corteva Agriscience in Ukraine, Central Asia, and the Caucasus.
"PrivatBank systematically develops partnership programs for the agricultural sector, ensuring access to financing on favorable terms. Cooperation with Corteva allows us to offer farmers comprehensive solutions that take into account the specifics of their business and seasonality. At the same time, a partnership with such an international innovative company as Corteva is extremely important, as it combines the bank's financial expertise with advanced agricultural technologies and products," commented Oleg Kalinichenko, Head of the Bank's Agribusiness Department.
"Quick access to financial instruments is a key factor for stable operations, and simple terms are important 'when every harvest is of strategic importance.' This allows for the creation of even more effective support tools for farmers and contributes to the sustainable development of Ukraine's agricultural sector," noted Mykhailo Kovalyov, Head of the Documentary Operations and Trade Finance Department at PrivatBank.
Agricultural producers across Ukraine can take advantage of these programs by contacting Corteva representatives or PrivatBank managers in their respective regions.
