July 25 2003, 09:31 UNIAN

The period of refinancing commercial banks, providing credits to farmers, will be up to 4 months - NBU Head

The period of refinancing by the National Bank of Ukraine the commercial banks, which credit agricultural producers, will constitute up to four months - the Head of NBU Serhiy Tyhypko has said at a meeting with regional media, according to UNIAN news agency.

Tyhypko earlier declared that NBU was going to support large grain traders, if they had a joint programme with commercial banks. This concerned the 50-percent refinancing (about $150 to 200 million), under obligations of commercial banks, for purchases of about 2 million tonnes of food grain. This refinancing is to be short-term one. Tyhypko was supposing that the term of about 90 days would be enough to import the grain and to make its turnover, the news agency writes.