Cabinet agrees attraction of EUR 400 mln loan from EIB for projects in agriculture

The government has approved the attraction of a loan of EUR 400 million from the European Investment Bank (EIB) for the Ukrainian agricultural sector.

Cabinet resolution No. 1342-r of December 16 has been published on the government's website.

The Finance Ministry will acts as executive manager of the project.

As reported, referring to Ukrainian Minister of Agricultural Policy and Food Oleksiy Pavlenko, the EIB loan will help the country get access to cheap European funds and use them to support agricultural producers. However, the minister did not specify the exact targets for spending the funds.