Podyk S. Financial and credit support for the development of agricultural enterprises in modern conditions

The dissertation deepens the theoretical foundations and develops practical recommendations for improving the financial and credit mechanism of supporting the agricultural sector under modern challenges. The object of the research is the process of financial and credit support for the development of agricultural enterprises under current conditions. The subject of the research is the theoretical, methodological, and applied foundations of financial and credit support for agricultural development. The dissertation emphasizes that the agricultural sector plays a crucial role in shaping the national economy of Ukraine, ensuring food security, and replenishing foreign exchange reserves. However, its effectiveness largely depends on the availability of financial resources, which determine the ability of enterprises to implement investment projects, modernize production facilities, and strengthen competitiveness. Current challenges, including the COVID-19 pandemic, economic crises, and the full-scale invasion that began on February 24, 2022, have significantly complicated financial support for the agricultural sector. Under such conditions, limited access to credit resources and rising borrowing costs have highlighted the need for in-depth research and the development of new approaches to financial and credit support. The dissertation deepens the theoretical and methodological principles of financial and credit support for agricultural enterprises and develops practical recommendations to improve its efficiency in the context of economic transformations. Based on the analysis of modern approaches, the theoretical provisions of the financial and credit mechanism are clarified by specifying the categories “financial support”, “financial mechanism”, and “financial and credit mechanism of the enterprise”. The financial and credit mechanism is proposed to be understood as a system of interrelated financial processes, instruments, methods, and resources used by enterprises to maintain their activities, achieve strategic goals, and ensure financial stability. The systemic approach made it possible to design an updated structure of this mechanism adapted to the specifics of the agricultural sector and to propose the inclusion of behavioral and investment factors among its components. Theoretical provisions are supplemented with the analysis of foreign experience in financing the agricultural sector. Relevant trends for adapting international practices to Ukrainian realities are identified. It is established that in the EU and the USA, state guarantees, risk insurance, and specialized credit programs are widely applied. For Ukraine, promising directions include the development of agricultural bonds and notes, as well as stimulating private investment through venture financing and crowdfunding. Based on this analysis, a new instrument is proposed –ua-bonds (Ukrainian agrarian bonds), to be considered as state or regional debt securities, the funds of which are directed exclusively to preferential lending of agricultural enterprises. Special attention in the dissertation is devoted to the digitalization of financial and credit support. The use of cloud technologies, particularly Google Colab, enabled automation of complex calculations, reduced the risk of errors, and improved result accuracy. Developed economic and mathematical models allow assessing the creditworthiness of agricultural enterprises, forecasting default probabilities, and forming an optimal loan portfolio. A significant practical result is the substantiation of ways to improve the State Agrarian Register (SAR). It is proposed to expand its functionality for automated credit risk assessment, integration with banking and state registers, and ensuring transparency in the distribution of financial support. This approach will not only increase objectivity in decision-making but also reduce credit risks and simplify access to financing for agricultural enterprises. The practical significance of the dissertation lies in the fact that the proposed measures can be applied by government authorities, banking institutions, and agricultural enterprises themselves. Their implementation will strengthen financial stability, expand investment opportunities, increase competitiveness, and ensure sustainable development of Ukraine’s agricultural sector. Thus, the research results confirm that improving the system of financial and credit support for agricultural enterprises is one of the key conditions for economic stability and national development. The proposed theoretical foundations and practical recommendations provide a basis for creating a modern financial mechanism capable of functioning effectively under current challenges.