The World Bank is implementing an emergency project to provide inclusive support for the recovery of agriculture in Ukraine (ARISE). More than 90,000 farmers will receive assistance in attracting soft loans and grants.
It is noted that the ARISE project will facilitate agricultural producers’ access to preferential financing in 2023 and 2024. The project will help farmers mobilize about $1.5B in working capital. The project will also complement the World Bank’s support of Ukrainian agriculture, designed to accelerate private investment and strengthen partial credit guarantees for small farmers.
The project’s financing consists, among other things, of a World Bank loan for $230M from the ADVANCE Ukraine fund, which the Government of Japan supports. The funding also includes a $320M grant from the URTF Trust Fund. At the same time, the project envisages attracting additional financing of up to $150M, when such funds will be available from the World Bank and donors.