The International Finance Corporation (IFC) and the Ministry of Agrarian Policy and Food have signed an MOU to modernize and develop the irrigation and drainage sector in Ukraine. The aim is to increase private sector participation in an inclusive and climate-resilient agricultural sector. According to the World Bank, irrigating 1 million hectares of land in southern Ukraine, the country’s driest region, would require $2 billion in investment. IFC has agreed to assist to help the government develop a plan for the organization and functioning of a national operator of main irrigation canals and developing a public-private partnership (PPP) model that could meet the sector’s large-scale financial needs and attract private investment in irrigation equipment.