The World Bank restructured the program to support the agricultural industry of Ukraine




On March 30, the World Bank announced the restructuring of the existing Program based on the results of "Acceleration of Private Investments in the Agriculture of Ukraine." As part of the Program, $132 mln will be allocated to achieve new goals for supporting the recovery of agricultural production, which was affected by Russia's invasion of Ukraine, the press service of the Security Council reported.

"In particular, funds will be available for government programs aimed at improving access to financing through the 5-7-9 credit programs and partial loan guarantees for small farms, diversifying agricultural production through support for horticulture, and improving water scarcity management and adaptation to climate change," the message states.

The restructured program will complement the activities of other development partners, such as the United Nations, the European Union, and the United States Agency for International Development (USAID) in supporting the recovery of the agricultural sector. In particular, it will contribute to the Agricultural Sustainability Initiative in Ukraine, launched by USAID in early August 2022, the goal of which is to mobilize funding of $250 million to support the agricultural sector of Ukraine.

"The restructured program will also complement previously announced aid packages under the World Bank's Public Expenditures for Administrative Capacity Endurance (PEACE) Project, which helps "Ukraine to continue to provide essential services and perform essential government functions amid an ongoing war," - added in the press service.