World Bank concludes new grant agreement with Ukraine
The Ministry of Agrarian Policy and Food of Ukraine and the World Bank signed a Grant Agreement under the Ukraine Relief, Recovery, Reconstruction and Reform Multi-Donor Trust Fund and a Loan Agreement under the Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project.
The documents were signed by Mykola Solskyi, Minister of Agrarian Policy and Food of Ukraine, and Gevorg Sargsyan, World Bank Country Manager for Ukraine.
The implementation of the Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project will provide USD 700 million to Ukraine to support agriculture.
The funds will be used to implement two components of the ARISE project:
- Financial support for the Affordable Loans at 5-7-9 programme for agricultural production and food processing;
- Grant support for small agricultural producers, namely land users and those specialising in cattle, goat or sheep farming.
The project is scheduled for implementation in 2023 and 2024.
The parties agreed to coordinate joint efforts to support Ukrainian agricultural producers and restore the agricultural sector.
