Ukraine received USD 230 million from Japan under the World Bank's project for agricultural recovery.
The Ministry of Finance of Ukraine has announced that within the World Bank`s Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project, the State Budget of Ukraine has received a loan of USD 230 million from the Government of Japan.
The funds were raised from the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund.
Minister of Finance of Ukraine Sergii Marchenko thanked the World Bank team and the Government of Japan for their support. He stated that the raising funds under the ARISE project is an important contribution to ensuring access to financing for Ukrainian agricultural businesses.
“During the war, agriculture suffers significant losses, which in turn threatens food security not only in Ukraine but also around the world. Raising funds under the ARISE project is an important contribution to ensuring access to financing for Ukrainian agricultural businesses. We are grateful to the team of the World Bank and the Government of Japan for their timely support from the first days of the full-scale invasion,” said Sergii Marchenko.
The Ministry of Finance has stated that the ARISE project aims to support agricultural producers’ access to finance through concessional lending (compensation for expenses under the 5-7-9 programme) and improve small agricultural enterprises’ access to finance through grants.