Ukraine to receive $500 million for agricultural recovery
Ukrainian agriculture will receive $500 million (Vitalii Nosach, RBC-Ukraine)
The Cabinet of Ministers has approved the allocation of $500 million for the implementation of the Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) project, according to government orders No. 873-r and No. 874-r dated September 29, 2023.
According to the documents, the approval includes a grant of $270 million for budget support from the International Bank for Reconstruction and Development and the International Development Association (acting as administrators of the Multidonor Trust Fund for Assistance, Reconstruction, and Reform in Ukraine).
Additionally, the approval includes a loan of $230 million from the International Bank for Reconstruction and Development.
The estimates of the Ministry of Agrarian Policy and Food show that the losses to Ukraine's agriculture due to the war could amount to approximately $40 billion.
Furthermore, the FAO (Food and Agriculture Organization of the United Nations) Rapid Response Plan for Ukraine in 2023 includes three main directions that will require funding of $205 million.
