POST Online Media Lite Edition


EIB lends 400 million euros to finance agriculture in Ukraine

Staff writer |
Prime Minister of Ukraine Arseniy Yatsenyuk has signed a financial agreement (Ukraine Agri-Food Apex Loan) between Ukraine and the European Investment Bank.

Article continues below

Implementation of the Agreement will attract EUR 400 million for 12 years with a 4-year grace period to support the agricultural sector in Ukraine. The funds will support projects in the field of growing grain and oilseeds, as well as the upgrade of the fish sector and aquaculture in Ukraine.

The European Investment Bank will act as the lender in the framework of the Project, while Ukraine will be the borrower of resources through the Ministry of Finance, which jointly with the Ministry of Agriculture and Food and in cooperation with JSC Ukreximbank will carry out a project selection as well as monitor their implementation.

The EIB loan funds can cover up to 50% of the identified projects. The rest will be financed by own funds of participating banks or by final beneficiaries.

Therefore, the project aims to accumulate financial resources in an amount equivalent to at least EUR 800 million.

What to read next

Global wheat supplies reach new record high
China imports 2.97 million mt of wheat in 2015
Ukraine grain harvest totals 6.5 million tonnes so far