Ukraine needs to find an additional $1 billion to insure grain exports, —Ministry of Agrarian Policy
3.02.2025 - 15:43
To insure the export of Ukrainian agricultural products, an additional $1 billion must be found.
This was stated by the Minister of Agrarian Policy and Food Vitaly Koval, Interfax-Ukraine reports.
Thus, Ukraine must find an additional approximately $1 billion to expand the powers of the Export Credit Agency (ECA) to insure the export of grain crops and commodities.
“The Ministry of Agrarian Policy and the Ministry of Economy have made calculations, and I can say that this requires about $1 billion. We calculated based on the calculation of 5 million tons at $200, and here we have $1 billion,” Koval said at the Grain Storage Forum in Kyiv.
The minister assured that the government is considering opportunities to obtain financing in all existing institutions and will seek additional funds to insure agricultural products against military risks during export.
At the same time, Koval admitted that the Ukrainian agricultural sector has a big problem with access to cheap financial resources.
“If we talk about the number of loans in the agricultural economy, this is an extremely low figure. Given that Ukraine produces agricultural products worth approximately UAH 1.2 trillion, the number of loans attracted at this moment is only about 9% – a little more than UAH 100 billion. This indicates that the enterprise engaged in production and trade is underfunded,” he noted.
Earlier, USM, quoting the Minister of Agricultural Policy, reported that the suspension of assistance from USAID will negatively affect the agricultural sector. Currently, the government is looking for ways to solve this problem and attract alternative financing.
