SFGCU initiates a revision of the  credit rate

SFGCU initiates a revision of the credit rate

01.12.2016 News

According to Interfax-Ukraine, the  State Food and Grain Corporation of Ukraine  (SFGCU) will initiate a rate decrease. The Eximbank of China  issued the credit to the corporation under Ukraine state guarantees in the amount of 1,5 milliard dollars in 2012.

Oleksandr Hryhorovych, the acting CEO of SFGCU said: “We work on the very important issue. It is an interest rate reduction on the credit. It seems as the  essential burden for the corporation, paying attention that  the financial market is fallen”. He admits that the credit rate has made 4,5%.

The head of the corporation added: “As far as I know, The Ukrainian government has  already given  the assignment  to consider a corresponding letter preparation question with the offer to change conditions of the credit agreement to the Ministry of Finance and to the MIA. We expect that this question won’t be tightened”. He expects that the rate decreases by 3%.

O.Hryhorovych said: “We have placed a small part of money under 6,17%.  Nobody is interested in these means. Unfortunately, there are no projects in which they could be invested now”. SFGCU searches the opportunity to deposit the  transit to another bank.

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