During russia's war against Ukraine, international support for the Ukrainian agricultural sector is extremely important, the Committee on Agrarian and Land Policy reports.
Thus, according to the Ministry of Finance of Ukraine, the Government of Japan has provided Ukraine with a loan of $230 million under the Agricultural Rehabilitation and Industrial Recovery Project (ARISE). The funds were raised from the Trust Fund to Promote the Necessary Expansion of Credit for Ukraine (ADVANCE Ukraine).
It is noted 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 to improve small farms' access to grants.
The amount of project funding is currently $550 million, of which: $500 million will be used to finance the State Programme “Affordable Loans 5-7-9%” in 2023-2024 with a focus on agricultural enterprises, and almost $50 million is provided for grants for small agricultural producers.
It is also noted that on 20 March, Ukraine already received a €4.5 billion loan from the EU, and on 21 March, a loan of C$2 billion ($1.5 billion) from Canada. And on 22 March, the IMF Board of Directors approved the third review of the EFF Extended Fund Facility. This means a new tranche for Ukraine – about $880 million.
In general, according to the Ministry of Finance, in March 2024, the volume of external financing inflows has already reached $7.5 billion, which is an absolute monthly record in the history of Ukraine.