KYIV, Aug 2 – Ukraine could have cheap loans at 12-13% in hryvnia next year in an optimistic scenario, according to Oleksiy Honcharuk, the deputy head of the Office of the President.

He also noted that the plans include the creation of an instrument in the Ukrainian banking system that will protect the interests of creditors.

"Why is it so important for us to have cheap loans next year? Because this way farmers will be able to go to the bank and get a loan in hryvnias at 12-13%, it will be much easier for them to work, develop and be competitive," Honcharuk noted, adding that this can be implemented using restriction or incentive instruments.