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The World Bank to allocate $700 million to support and restore agriculture in Ukraine

The Ministry of Agrarian Policy and the World Bank Office in Ukraine signed an agreement on the allocation of $700 million as part of the multi-donor Ukraine Relief, Recovery, Reconstruction, and Reform Trust Fund (URTF) and the Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project.

Member of Parliament Danylo Hetmantsev reported this on Telegram.

The money will be used, in particular, to:

  • support the Affordable Loans 5-7-9% program to fund agricultural production and food processing;
  • provide grant aid to small agricultural producers, namely land users and those who specialize in breeding cows, goats, or sheep.

The project is scheduled for 2023–2024.

Quote"We are grateful to the World Bank, which very quickly brought the implementation of the recently announced project into practice!" the MP wrote.

Earlier, the International Bank for Reconstruction and Development (IBRD) announced the allocation of $550 million for the restoration of agriculture in Ukraine.

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