THE ROLE OF LEASING COMPANIES IN THE INVESTMENT AND MATERIAL- TECHNICAL SUPPORT OF AGRICULTURAL PRODUCTION: THE CASE OF THE NATIONAL JOINT STOCK COMPANY "UKRAGROLEASING"

Abstract

The article investigates the role of leasing companies in the investment and material-technical support of agricultural production on the example of the National Joint Stock Company “Ukragroleasing”. The  relevance of the study is determined by the necessity to modernize the agricultural sector of Ukraine, renew fixed assets, and improve the efficiency of agricultural enterprises under conditions of limited financial resources and insufficient state support. The study reveals the economic essence of financial leasing and substantiates its significance as an effective financial instrument for ensuring continuous reproduction of technical resources in agricultural production. Special attention is focused on the activities of “Ukragroleasing” as a state-owned leasing company that provides agricultural producers with machinery, equipment, and technical facilities on favorable financial leasing terms. The article analyzes the main directions of the company’s activity, mechanisms of financing leasing operations, and the influence of leasing on the development of agricultural enterprises. It is determined that leasing enables agricultural producers to obtain modern machinery without significant one-time capital expenditures, which contributes to the acceleration of technical modernization and the improvement of production processes. The advantages of leasing operations for agricultural enterprises are identified, including flexibility of payments, reduction of financial pressure, increase in production capacity, improvement of labor productivity, and strengthening of investment activity in the agricultural sector. The research proves that leasing contributes to the renewal of the machine and tractor fleet, stimulates innovation activity, and supports the development of domestic agricultural machinery manufacturing. At the same time, the study identifies the key problems that restrain the effective development of leasing relations in Ukraine, such as insufficient financing of state leasing programs, imperfect legal regulation, inflationary risks, and limited access of small farms to leasing services. The necessity of improving state support mechanisms, expanding leasing programs, attracting additional investment resources, and increasing the efficiency of leasing companies is substantiated. It is concluded that leasing companies play an important role in ensuring sustainable development, competitiveness, and economic stability of agricultural production in Ukraine.