Ukraine and the IBRD have signed a grant and loan agreement for $550M within the World Bank’s Emergency Project of Provision of Inclusive Support for the Restoration of Ukraine’s Agriculture (ARISE) project, reports the Ministry of Finance.
The financing consists of a $230M World Bank loan from the ADVANCE Ukraine Trust Fund, supported by the Japanese government, and a $320M grant from the URTF Trust Fund. The goal is to help agricultural producers obtain access to financing through cheap loans and grants. It is planned that $500M will go to the 5-7-9% program, and $50M will go to grants.
The Ministry of Agrarian Policy signed a similar grant and loan agreement for $700M with the World Bank. These funds will also be provided under the ARISE program. The money will go to an affordable loan and grant program. Implementation of the projects is planned for 2023 and 2024.