Piraeus Bank has joined two critical initiatives aimed at fostering the development of Ukraine's domestic industry and agricultural sector. 

Initiative 1: Supporting Agricultural Producers 

Under the first initiative, the government partially compensates the cost of Ukrainian-made agricultural machinery and equipment through Piraeus Bank. This program is implemented within the framework of the "Procedure for Using Funds Allocated in the State Budget for Partial Compensation of the Cost of Ukrainian-Made Agricultural Machinery and Equipment," approved by the Cabinet of Ministers of Ukraine's Resolution No. 130, dated March 1, 2017 (hereinafter referred to as the Program). 

Participants—legal entities and individual entrepreneurs classified as agricultural producers—can receive compensation of up to 25% of the cost (excluding VAT) for purchasing certified domestic machinery and equipment meeting localization standards and accredited by the Ministry of Economy. 

Detailed requirements: 

Eligible equipment includes agricultural machinery and tools listed by accredited manufacturers/dealers as specified by Resolution No. 130. 

Initiative 2: Strengthening Industrial Growth 

The second initiative supports industrial development under the framework of the "Procedure for Implementing an Experimental Project for Partial Compensation of the Cost of Ukrainian-Made Machinery and Equipment" within the All-Ukrainian Economic Platform "Made in Ukraine." This is governed by Cabinet Resolution No. 952, dated August 20, 2024. 

Participants in this program—legal entities and individual entrepreneurs—are eligible to receive compensation of up to 15% of the cost (excluding VAT) for purchasing certified domestic equipment. 

Detailed requirements: 

Eligible equipment must be certified as domestically manufactured and accredited by the Ministry of Economy under Resolution No. 952. 

Steps to participate 

1. Purchase equipment: Through an authorized bank, such as Piraeus Bank, which has signed a Memorandum with the Ministry of Economy. 
2. Submit an application: Provide the following documents to the bank: 
    1. Application for compensation (provided by the bank). 
    2. Purchase agreement and vehicle/machinery registration certificate (if required by law). 
    3. Copy of the payment document. 
    4. Consent for the bank to share financial and personal data with the Ministry of Economy (provided by the bank).
    5. Equipment delivery acceptance report. 

Application deadlines: 

- For equipment purchased before December 1 of the current fiscal year, applications must be submitted by December 5 of the same year. 
- For equipment purchased after December 1, applications must be submitted by April 1 of the following fiscal year. 

Verification and compensation process 

Once the application is submitted, Piraeus Bank verifies the documents and sends the list of buyers to the Ministry of Economy for further processing. The Ministry allocates funds to authorized banks, including Piraeus Bank, which then transfers the compensation directly to the clients’ accounts. 

Eligibility 

This opportunity is available to Piraeus Bank clients, including legal entities and individual entrepreneurs (sole proprietors) whose primary activity is the supply of agricultural goods* and who meet the program criteria outlined in CMU Resolution No. 130, as well as all other entrepreneurs in accordance with CMU Resolution No. 952.  

* As defined in paragraph 2.15 of Article 2 of the Law of Ukraine "On State Support of Agriculture in Ukraine," agricultural goods produced by the entity on their own or leased fixed assets are eligible, provided that the proportion of the value of such agricultural goods constitutes at least 75% of the total value of all goods supplied by these legal entities or individual entrepreneurs during the previous 12 consecutive reporting tax periods combined. For newly established agricultural producers operating for less than 12 calendar months, this requirement is based on the results of each separate reporting period (hereinafter referred to as agricultural producers).  

For more information, clients can contact any Piraeus Bank branch or their personal manager. 
 

Thanks to such initiatives, Ukrainian businesses can significantly reduce financial burdens when upgrading equipment, contributing to the national economy's growth. Piraeus Bank is proud to support domestic industry and agriculture, enabling clients to adopt modern technologies, grow, and strengthen the country's economy. The bank remains committed to providing effective solutions to benefit Ukrainian businesses.