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EBRD to invest $162 million in Ukraine's agriculture

Staff Writer |
The European Bank for Reconstruction and Development (EBRD) will invest at least 150 million euros ($162 million) into Ukraine's agricultural sector this year, the bank's director for Ukraine Sevki Acuner said.

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"We expect the investment in the amount of between 150 and 200 million euros. We anticipate the restoration of economic activity, which will result in the increased needs of companies in capital injections and investment," Acuner was quoted as saying by the Ukrainian Agriculture Ministry's press service.

The EBRD aid will be directed to the diversification of farming business and implementation of new technologies in the agricultural sector, he said.

Besides, the bank will provide consultations to Ukraine on the issues regarding the governance of the agricultural sector and technical support on creating a platform for farmers to exchange their views on the development of meat and dairy industries.

Capital investment in Ukraine's agricultural sector reached a record high of 1.6 billion dollars last year due to the improved profitability of doing agribusiness in Ukraine, new exports opportunities and overall stabilization in the country due to the easing of the conflict in the eastern regions.

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