(KYIV, UKRAINE) – Ukraine’s central bank has introduced new rules to stop viable farms and agribusinesses from being pushed into default as Russian attacks disrupt export routes. The measures allow banks more freedom when dealing with borrowers hit by the financial fallout of the war.
The National Bank of Ukraine said the changes form part of a wider package to keep finance flowing to strategically important sectors, with the agriculture industry at the top of the list. The new approach lets banks avoid classifying a borrower as in default if the borrower carries out a short term debt restructuring lasting up to one year. This applies when financial trouble has been caused directly by Russian aggression.
The central bank said the approach draws on the successful use of preventive restructurings after the crises of 2020 and 2022. The regulator stated that these short term debt restructurings would not harm financial stability and would at the same time allow a large number of borrowers to steady their operations.
The relief applies to restructurings carried out between 1 July 2026 and 1 September 2027. Banks must have reason to believe that borrowers can overcome temporary difficulties and resume servicing their debts.
The central bank has also introduced changes on how banks treat agricultural products used as collateral, valid until 1 September 2027. This responds directly to the disruption of logistics chains for farm exports. The liquidity coefficient for agricultural product collateral has been raised from 0.4 to 0.75. Banks can now value product collateral based on actual stock levels on the date a credit risk is calculated. The maximum term for a loan agreement using such collateral has been extended from 12 months to 18 months.
Separately, the central bank set out common approaches for accounting for guarantee instruments on a portfolio basis. These instruments feature two levels of cover and allow partial reimbursement to the guarantor from the recovery of other securities. The central bank noted that these changes were worked out together with international partners.
The regulator also clarified requirements for counting days of overdue payment on a loan held by an individual borrower, where partial or full repayment has been made using an overdraft or credit card facility.
National Bank Governor Andriy Pyshnyi said the task was to react in time and prevent temporary difficulties from cutting viable businesses off from finance. He noted this was especially important given the recent large scale destruction of sea export infrastructure and logistics centres. Pyshnyi stressed that the decisions do not cancel responsible risk assessment. Rather, they give banks more flexibility and give viable businesses a chance to get through a tough period, keeping production and jobs intact.
The changes were introduced by National Bank board resolutions number 88 and number 89, dated 7 August 2026. Both come into force on 8 August. The move follows a central bank survey showing that banks expect further growth in business and household loan portfolios over the next 12 months, along with rising demand for all types of borrowing.
