The American Chamber of Commerce in Ukraine welcomes passing of Draft Law #9266 “On Electronic Agricultural Receipts” (Draft Law #9266) as a basis in the first reading by the Verkhovna Rada of Ukraine on July 13, 2023.
Implementation of legislative amendments proposed by the Draft Law #9266 will create preconditions for increasing volumes of financing for agricultural producers from local and international creditors.
AmCham Ukraine welcomes the proposed amendments in the part on agricultural receipts legislation:
- establishment of a new instrument in the form of an electronic non-emission security paper in order to increase its reliability and reduce the issuance cost;
- automatic verification of agricultural producer data, which reduces the risk of human error;
- improved execution to ensure the repayment of the loan in case of agricultural producer’s default.
We believe that full adoption of this important legislation will contribute to improving the access of agricultural producers to production resources and financing.
Business is grateful to the Members of the Parliament for passing this progressive Draft Law in the first reading and looks forward to its soonest adoption in the second one.