The National Bank of Ukraine has eased lending rules for businesses and agricultural producers following intensified Russian attacks, the central bank press service announced. The regulator expects the measures to help companies survive temporary financial difficulties without losing access to credit.
The National Bank of Ukraine stated that the steps will not affect financial stability and will allow many borrowers to stabilize their operations. National Bank of Ukraine Governor Andriy Pyshnyy said the decisions do not cancel responsible risk assessment, but give banks more flexibility while allowing viable enterprises to maintain production, preserve jobs, and support economic resilience.
Under the updated rules, banks are not required to classify a borrower as in default if their loan is restructured for up to one year due to war impacts. This relief applies to restructurings completed between July 1, 2026, and September 1, 2027, provided the bank expects the borrower to overcome temporary financial difficulties and resume repayments.
Agricultural collateral and portfolio guarantees
To support agricultural enterprises facing export difficulties caused by the war, the central bank temporarily changed rules for evaluating agricultural collateral. Until September 1, 2027, banks can value agricultural produce higher by increasing the liquidity ratio from 0.4 to 0.75, account for actual product balances on the evaluation date, and extend loans secured by such collateral for up to 18 months instead of 12.
The National Bank of Ukraine also unified rules for accounting portfolio guarantees used to reduce credit risk. Developed alongside international partners, these changes aim to expand the use of guarantee tools, including under the Ukraine Facility program. Additionally, the central bank standardized how banks calculate overdue payments on individual loans repaid through overdrafts or credit cards.
Separately, the Cabinet of Ministers altered rules for state financial support for agricultural producers under the Affordable Loans 5-7-9 percent program. The government removed a restriction that limited farmers to using no more than 20 percent of loan funds for working capital.
State aid and agricultural export losses
The Ministry of Agrarian Policy and Food explained that producers can now direct loan funds toward raw materials, equipment, and other production needs without the 20 percent limit, while overall borrowing limits remain unchanged.
The government also reduced the interest rate for agricultural working capital loans from 15 percent to 10 percent per year, with the state compensating the difference relative to market rates.
According to estimates by the Ministry of Agrarian Policy and Food, Ukraine was expected to export about 64.4 million tonnes of agricultural products in the 2026/2027 marketing year. However, ongoing sea port blockades could reduce exports by more than half to approximately 29.6 million tonnes. Direct losses in the Ukrainian agricultural sector this year could range from 1.5 billion US dollars to 3 billion US dollars.
Ukraine has requested 220 million euros from the European Union to support farmers affected by the port blockade. The Ministry of Agrarian Policy and Food aims to use the European Union funding to build a loan portfolio for agricultural working capital.
