World Bank allocated USD 200 mln for Ukrainian agribusiness development support

The World Bank will provide a USD 200 million loan to finance projects in the Ukrainian agribusiness for creating information databases, the Agrarian Ministry informs on its Facebook page.

On August 27th, Acting Minister of Agrarian Policy and Food of Ukraine Olga Trofimtseva, Minister of Finance of Ukraine Oksana Markarova and Director of the World Bank Country Director for Belarus, Moldova, and Ukraine Satu Kakhkonen signed the Program "Acceleration of Private Investments in Agriculture of Ukraine", which provides for a USD 200 million loan to Ukraine.

The primary objectives of the World Bank's new lending program are to improve the efficiency of Ukraine's agriculture, to ensure a better-targeted policy of support to the sector, to increase transparency in the use of state agricultural land, and to extend the access of small and medium-sized farms to exports.

"The Program is aimed at easing restrictions on the involvement of the private sector, in particular, small and medium-sized enterprises, in the agricultural production factors market and the market of commodities in Ukraine," said Olga Trofimtseva.

In early August, the Ukrainian Institute for the Future (UIF) and Latifundist Media presented the strategy for the development of Ukraine's agricultural sector by 2030, "Ukraine — the World's Supermarket of Eco-Friendly Products".