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Cooperation with International Financial Institutions

published 27 January 2019 17:08

In order to attract investments, credit resources and create a favorable investment climate to the agricultural sector, the Ministry of Agrarian Policy and Food of Ukraine closely cooperates with international financial organizations, in particular, the European Bank for Reconstruction and Development (hereinafter EBRD), the World Bank and the European Investment Bank.

The EBRD’s agricultural activities cover the entire production chain from growing and processing to packaging and retail. The EBRD makes a significant contribution to the development of the agricultural sector through the financial support of local and foreign corporate clients, as well as small and medium enterprises. The Bank also implements technical assistance projects jointly with the Food and Agriculture Organization of the United Nations (FAO).

In the framework of cooperation with the World Bank, the Concept of partnership of the World Bank with Ukraine for 2017-2021 is in force. The concept contains a WB medium-term plan to support the reforms implemented by the Government of Ukraine. The concept of partnership is a common strategy of the International Bank for Reconstruction and Development, the International Finance Corporation and the Multilateral Investment Guarantee Agency.

In 2018, proposals were made to launch a new system project with the World Bank “Program for downsizing the investment risks in the agriculture”.

With the support of the International Bank for Reconstruction and Development, there is a system project “Guarantee for the support of state policy in the field of economic growth and fiscal sustainable services” in place. This project provides for the reform, in particular, of the agricultural land market.

The International Finance Corporation (IFC) implements two projects in the agricultural sector on a consultative basis: "Development of the agricultural insurance in Ukraine" and "Agricultural receipts in Ukraine".

A financial agreement was signed between Ukraine and the European Investment Bank. The attracted loans will be used to expand the funding possibilities of the agrarian sector of the economy, in particular, projects of public and private enterprises of Ukraine (small and medium enterprises and institutions with average capitalization in the agrarian sector). In December 2018, the Ministry of Agrarian Policy and Food of Ukraine signed the Agreement on cooperation between the Ministry of Agrarian Policy and Food of Ukraine and the European Investment Bank on technical assistance to support implementation of the above-mentioned project.