The World Bank will provide $700 million to restore Ukraine’s agriculture.
The relevant Grant Agreement of the Multidonor Trust Fund for Assistance, Recovery, Reconstruction, and Reform of Ukraine, as well as the Loan Agreement (Emergency Inclusive Support Project for the Recovery of Ukrainian Agriculture – ARISE), was signed by the Ministry of Agrarian Policy and Food of Ukraine and the World Bank.
The implementation of the “Emergency Inclusive Support Project for the Recovery of Ukrainian Agriculture (ARISE)” involves providing Ukraine with $700 million to support agriculture, as stated in the Ministry of Agrarian Policy’s announcement.
The funds will be directed towards the realization of two components of the ARISE project:
- Financial support for the “Affordable Loans 5-7-9%” program for agriculture and food processing.
- Providing grant assistance to small agricultural producers, specifically land users and those specializing in the breeding of cows, goats, or sheep.
The project’s implementation is planned for 2023 and 2024.