World Bank to provide $200 mln to Ukraine to accelerate private investment in agriculture
The World Bank will provide $200 million to Ukraine to implement the Accelerating Private Investment in Agriculture Program Project for Ukraine to alleviate select constraints to increased participation of the private sector, in particular small and medium-sized enterprises (SMEs), in agricultural input and output markets of Ukraine.
According to a report on the website of the World Bank, the World Bank's Board of Executive Directors on May 24 approved the loan.
The Government Strategy and Action Plan for Leveraging Private Investment in Agriculture (GSAP) sets forth a broad range of measures to mobilize private investment in the agriculture and agribusiness sectors.
The GSAP comprises the following components: guaranteeing the stability, predictability, and transparency of agricultural policy and the state support system; stimulating diversification in agricultural production and promoting integrated development of rural areas; strengthening the capacity of the national food safety system; improving the efficient use of available infrastructure for storage and transportation of agri-food products, creating a stable climate for investments in infrastructure and logistics.
The GSAP is also aimed at improving tenure security, value, and transparency of the use of state agricultural land; improving water resource management and user-led irrigation service delivery; creating preconditions for improved access to agricultural inputs for all types of agricultural producers; and improving access to finance and risk management instruments for all stakeholders using EU and international best practices.
The total project cost is $1.294 billion.