The World Bank allocates $700 million to support Ukrainian farmers
The Ministry of Agrarian Policy and the World Bank signed an agreement on the support and restoration of agriculture in Ukraine.
The Ministry of Agrarian Policy of Ukraine and the World Bank signed the Grant Agreement of the Multi-Donor Trust Fund for Assistance, Reconstruction, Reconstruction and Reform of Ukraine and the Loan Agreement (Emergency Project for Provision of Inclusive Support for the Restoration of Agriculture of Ukraine (ARISE)).
$700 million will be allocated to support agriculture as part of the “Emergency Project to Provide Inclusive Support for the Restoration of Agriculture in Ukraine (ARISE)”.
The money will go towards the implementation of two components of the ARISE project:
— financial support of the “5-7-9 Available Loans” program for agricultural production and food processing;
— providing grant aid to small agricultural producers, namely land users and those who specialize in breeding cows, goats or sheep.
The parties also agreed to coordinate joint efforts to support Ukrainian agricultural producers and restore the agricultural sector.
It should be noted that the implementation of the project is planned for 2023 and 2024.