IBRD provides Ukraine with USD 200 mln for accelerating private investment in agriculture
Ukraine has started the implementation of the Program on Accelerating Private Investment in Agriculture. The USD 200 mln loan was approved by the International Bank for Reconstruction and Development (IBRD) in August 2019. On May 20, it came into force after the internal state procedures, the Ministry of Finance of Ukraine informs.
The Program aims to increase agricultural sector competitiveness, diversification, and growth by enhancing the efficiency and targeting of sectoral support policies, improving transparency and efficiency of use in the state agricultural land, and improving agribusiness SMEs’ access to export markets. All of these are key preconditions for the successful development of the agriculture sector, the report reads.
"The funds will be used to create an open State Agrarian Register, conduct an inventory of state property, update the land cadastre, conduct satellite mapping of the territory of Ukraine, strengthen the state control system at the state border, develop and put into operation an interactive information system on food safety and export market requirements, etc.," the Ministry of Finance says in a statement.
Previously reported that the EBRD is considering the provision of a senior secured loan of up to EUR 7 mln to Baryshevska Grain Company LLC, the main operating company of the Grain Alliance Group.