Ukraine’s agricultural sector has been operating under the conditions of a full-scale war for the fifth year. Despite unprecedented challenges, it remains one of the key pillars of the country’s economy, generating foreign currency revenues, providing jobs and supporting food security.
However, the war has significantly changed the rules of doing business. While crop yields used to be one of the main factors of success, the financial resilience of a business and its ability to maintain business continuity regardless of external circumstances have become equally important today.
That is why access to financing for farmers is increasingly becoming a matter of business stability.
I would not be exaggerating if I said that Ukrainian agricultural producers are effectively operating under constant stress-test conditions today.
The first challenge is operational. Costs for fuel, seeds, fertilisers, maintenance and machinery repairs remain high. The second is logistical. Supply and export routes continue to depend on the security situation and the consequences of the war. The third is staffing. Like most sectors of the economy, agriculture is facing a severe labour shortage. The fourth is land-related. Some areas remain mined or are located close to combat zones, limiting the ability to use land resources.
However, liquidity is becoming the key challenge for many farms. Businesses need not only to complete the season but also to maintain production, upgrade their machinery, invest in product quality and at the same time retain sufficient working capital.
Agricultural businesses typically operate on a seasonal cycle: a significant portion of expenses occurs long before revenue is received. Machinery needs to be purchased and repaired in spring, fuel needs to be purchased before fieldwork begins, while revenue from crop sales only comes after the harvest has been collected and sold. The gap between these stages can range from several months to almost a year.
That is why leasing is becoming one of the most effective financing tools for development. Its main advantage is that a business can obtain the necessary machinery or equipment immediately without taking a significant amount of money out of circulation. The cost of the asset is spread over a longer period, while the payment schedule can take into account the specific features of the farm’s seasonal production cycle.
For farmers, this means:
- upgrading machinery without large one-off expenses;
- preserving working capital for day-to-day operations;
- flexible payment schedules that take seasonality into account;
- faster access to modern machinery and equipment;
- better control over expenses amid wartime uncertainty.
This tool is particularly relevant for small and medium-sized agribusinesses. These businesses are the ones most likely to face restrictions when seeking traditional financing, including collateral requirements, land bank size requirements or lengthy approval procedures.
In such cases, leasing is not an alternative to a loan, but a more practical solution for meeting a specific production need.
For many agricultural businesses, relocation has become an additional challenge.
Moving from frontline regions means more than simply changing the company’s address. It effectively means rebuilding the business from scratch: finding land plots, transporting or purchasing machinery, restoring warehouse infrastructure and building a new team.
Under such conditions, the need for financial development tools only increases. Businesses need to quickly restore production capacity and launch a new operating cycle without accumulating excessive debt.
That is why leasing programmes are increasingly becoming one of the key mechanisms for supporting farmers going through relocation or large-scale asset renewal.
Despite the difficult conditions, the agricultural sector is demonstrating a strong ability to adapt.
According to the World Bank RDNA5 assessment, as of the end of 2025, direct war-related damage to the agricultural sector had reached $12.1 billion, total losses amounted to $78 billion, while recovery and reconstruction needs were estimated at $55.5 billion.
At the same time, agriculture remains one of the country’s main sources of foreign currency revenues. In 2025, agricultural exports accounted for 56.1% of all Ukraine’s foreign currency revenues, or $22.5 billion.
The dynamics of financing the sector are also noteworthy. At the end of 2025, bank lending to the agricultural sector reached UAH 142 billion, compared with UAH 78.8 billion in 2023. Thus, in just two years, financing for agribusiness increased by more than 80%.
I am convinced that these figures confirm that agribusiness is not simply surviving but continues to invest in development even during the war.
A positive sign is that supporting agriculture remains one of the priorities for the government and international partners.
The 2026 state budget allocates UAH 13.1 billion to support the agricultural sector. Of this amount, UAH 9.5 billion is allocated to financial support for producers, UAH 2.6 billion to support farming businesses, and another UAH 1 billion to humanitarian demining of agricultural land.
At the same time, international support mechanisms are developing. In particular, the Ukraine Facility programme provides for the development of credit and guarantee instruments, support for investments in processing, physical assets and product sales. New international projects are increasingly focused not only on recovery but also on stimulating private investment and trade finance.
In practice, this means a shift from a model of “helping businesses survive the crisis” towards creating a comprehensive financial infrastructure for the agricultural sector to operate during a prolonged war.
Today, a bank’s role for an agricultural business is much broader than simply providing financing.
An effective financial partner should understand the specifics of the agricultural cycle, seasonal cash flows, production risks and the characteristics of a particular farm. That is why, when making decisions, it is important to assess not only formal indicators but also the client’s actual business model, potential and development prospects.
At Unex Bank, we follow exactly this approach. For us, it is important not simply to review an application but to find a solution that meets the needs of a particular business. We take into account the seasonality of the business, income structure, production cycle and the client’s investment objectives.
This is particularly important for small and medium-sized agribusinesses, which often need an individual financial solution rather than a standard product.
For many agricultural producers, the decisive factor today is not only access to financing but also its cost. That is why government support programmes are in significant demand. In particular, Unex Bank participates in the government programme “Affordable Financial Leasing 5-7-9%”, which allows agricultural businesses to obtain financing on preferential terms and direct more resources towards the development of production.
Speed of decision-making is no less important during wartime. Seasonal work cannot wait months for financing to be approved, so the prompt review of applications often becomes critical for a business. At Unex Bank, particular attention is paid to speeding up the credit and leasing process so that clients can implement their production plans on time.
Another advantage is the bank’s willingness to work not only with established companies but also with relatively young businesses. While the market often has requirements for businesses to have been operating for two or three years, Unex Bank considers financing businesses that have been operating for one year, expanding access to resources for new farms and agricultural projects.
At the same time, every business has its own specifics, so standard terms are not always optimal. That is why the bank takes an individual approach to structuring transactions. Depending on the specifics of the project and the client’s financial position, flexible solutions regarding the down payment may be considered, including financing with a minimal or even zero down payment provided that additional security is offered.
Under current conditions, leasing is becoming more than just a way to purchase machinery. It is a tool for supporting business resilience, allowing farmers to invest in development today rather than postponing necessary decisions indefinitely. A combination of government support programmes, flexible financing terms and an individual approach to client needs creates additional opportunities for agricultural producers even under challenging wartime conditions. These instruments help Ukraine’s agricultural sector remain competitive, adapt to new challenges and continue to be one of the country’s economic drivers.
Translation into English was created with the help of artificial intelligence.
