Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime

Rocznik Ochrona Środowiska 2026, vol. 28, pp. 103-121

Volodymyr Pysarenko¹ This email address is being protected from spambots. You need JavaScript enabled to view it., Oleksandr Radchenko² , Svitlana Hanziuk³ , Oleksii Muravskyi⁴ , Serhii Davydenko⁵ , Oleksandr Zinevych⁶ 

	1. Poltava State Agrarian University, Ukraine 2. Odesa I.I. Mechnikov National University, Ukraine 3. Dniprovsky State Technical University, Ukraine 4. National University of Life and Environmental Sciences of Ukraine, Ukraine 5. National Scientific Centre «Institute of Agrarian Economics», Ukraine 6. Interregional Academy of Personnel Management, Ukraine
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	https://doi.org/10.54740/ros.2026.008

This study evaluates agricultural credit and financial instruments' effectiveness in maintaining sector resilience under wartime conditions in Ukraine. Using statistical, comparative, and system analysis, we assess state-subsidized lending, EU grants, and international finance under infrastructure destruction, supply disruptions, and territorial occupation. The study reveals stark disparities: SMEs face significantly greater barriers through restrictive lending standards, while large agroholdings demonstrate superior access to international financing. Macro-level analysis shows remarkable success in maintaining agricultural exports as dominant despite massive disruptions. However, differential effectiveness reveals a two-tier recovery, with large operations capturing disproportionate credit while SMEs experience declining access. International financing, Affordable Loans 5-7-9%, and EU Production Grants prove most effective in respective domains. Crucially, financial support alone cannot overcome conflict-related constraints—income losses, infrastructure damages, landmine contamination, elevated costs—without addressing broader security challenges. Well-designed financial tools successfully maintain production capacity where market mechanisms would fail, yet integrated approaches combining financial support with physical security and reconstruction are essential for meaningful wartime recovery.

agricultural credit, financial instruments, wartime agriculture, Ukraine, conflict-sensitive finance, enterprise-level disparities, international development finance, operational resilience, sectoral recovery

AMA Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O.. Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime. Rocznik Ochrona Środowiska. 2026; 28. https://doi.org/10.54740/ros.2026.008

ACM Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O.. 2026. Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime. Rocznik Ochrona Środowiska. 28. DOI:https://doi.org/10.54740/ros.2026.008

ACS Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O., Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime Rocznik Ochrona Środowiska 2026, 28, 103-121. https://doi.org/10.54740/ros.2026.008

APA Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O. (2026). Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime. Rocznik Ochrona Środowiska, 28, 103-121. https://doi.org/10.54740/ros.2026.008

ABNT Style
PYSARENKO V., RADCHENKO O., HANZIUK S., MURAVSKYI O., DAVYDENKO S., ZINEVYCH O.. Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime. Rocznik Ochrona Środowiska, v. 28, p. 103-121, 2026. https://doi.org/10.54740/ros.2026.008

Chicago Style
Volodymyr Pysarenko. 2026. "Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime". Rocznik Ochrona Środowiska 28, 103-121. https://doi.org/10.54740/ros.2026.008

Harvard Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O. (2026) "Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime", Rocznik Ochrona Środowiska, 28, pp. 103-121. doi:https://doi.org/10.54740/ros.2026.008

IEEE Style
Pysarenko V., Radchenko O., Hanziuk S., Muravskyi O., Davydenko S., Zinevych O., "Analysis of the Effectiveness of Credit and Financial Instruments for Agricultural Enterprises in Wartime", RoczOchrSrod, vol 28, pp. 103-121. https://doi.org/10.54740/ros.2026.008