Economics and Business Management

Analysis of the effectiveness of bank credit instruments for agricultural enterprises in Ukraine

Leonid Tulush, Serhii Davydenko, Oleksii Muravskyi, Viktoriia Kostiuk, Serhiy Zabolotnyy
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Abstract

The purpose of this study was to determine the level of impact of bank credit instruments on the financial stability, profitability, and production efficiency of agricultural enterprises in Ukraine. The study analysed the dynamics of bank lending to the agricultural sector in 2022-2024. The total volume of loans provided to agricultural enterprises decreased from UAH 118.9 billion in 2022 to UAH 104.5 billion in 2024. The share of preferential financing under the programme “Affordable Loans 5-7-9%” in 2024 was 46% (UAH 46.9 billion). The study analysed three leading companies – Myronivsky Hliboproduct, Kernel, and Astarta-Kyiv, which actively used bank loans and international financing to stabilise the activities, modernise production and expand export potential. Myronivsky Hliboproduct restored profitability: from a loss of USD 231 million in 2022 to a profit of USD 144 million in 2024. Astarta-Kyiv increased corn yield to 10.35 t/ha, sugar production by 34%, and revenue from agricultural production by 33%. Kernel attracted USD 150 million in syndicated financing, which ensured a 2.3-fold increase in exports in 2024. The study proved that bank loans acted not only as an anti-crisis mechanism, but also as a tool for increasing efficiency, modernisation, and adaptation of enterprises to high-risk conditions. The practical significance of the study laid in substantiating the effectiveness of bank credit instruments as an effective mechanism for supporting the agricultural sector in times of crisis challenges, and in the possibility of using the results obtained to improve state financing programmes

Keywords

financial support; digitalisation; investments; government support; export

Suggested citation
Tulush, L., Davydenko, S., Muravskyi, O., Kostiuk, V., & Zabolotnyy, S. (2026). Analysis of the effectiveness of bank credit instruments for agricultural enterprises in Ukraine. Economics and Business Management, 17(2), 9-27. https://doi.org/10.31548/economics/2.2026.09
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