Korsoil Agro LLC, Ukraine: The deep hum of tractors fills the air as Viktor Korniychuk, owner of Korsoil Agro, inspects his machinery. As dedicated farmer, Korniychuk is delighted by the diverse crops his farm has been able to produce over the past 10 years since Korsoil Agro was established. Now with 31 employees, Korniychuk is an important local employer and a part of the country’s thriving agricultural sector.
The rich, fertile Ukrainian soil, which covers 70% of the country, yields a variety of crops. Farming makes up a substantial economic sector, contributing 12% to the country’s GDP. In fact, Ukraine is one of Europe’s leading grain producers.
In order to make the Ukrainian economy more sustainable and competitive, the agricultural sector needs to invest to keep up with modern standards. Machinery plays a big role in efficiency of agribusinesses; with the use of energy-efficient equipment, farmers like Korniychuk can reduce their expenses and get better results. This is where the Green for Growth Fund (GGF) is making its contribution.
The GGF is working with leasing companies, like OTP Leasing, to help farmers and agribusinesses like Korsoil Agro upgrade their equipment to reduce fuel consumption and become more energy efficient.
“By using the new equipment we received through OTP Leasing, we have reached a new level of efficiency. We are now driving over the field three times less, meaning we also use the equipment three times less. We were able to reduce the frequency of use of equipment on this farm, cutting the consumption of diesel, and reducing the load on land,” says Korniychuk. “This leads to better soil quality in the fields.”
“We feel the effects in economic terms, too. Thanks to this new equipment, our productivity has doubled, or even tripled for some kinds of grain,” remarks Korniychuk. With double the crop produced in half the time, it is clear that business for Korniychuk is thriving thanks to energy efficient machinery, enabled by the GGF, to harvest the grain.