EN|RU|UK
 Ukrainian Politics, Economics
  2351

 European Investment Bank allocates EUR 400 mln to finance Ukraine's agricultural sector

Prime Minister of Ukraine Arsenii Yatseniuk has signed a financial agreement (Ukraine Agri-Food Apex Loan) between Ukraine and the European Investment Bank on Monday, Dec. 28.

Censor.NET reports citing the press service of the government.

Implementation of the Agreement will attract EUR 400 million for 12 years with a 4-year grace period to support the agricultural sector in Ukraine. The funds will support projects in the field of growing grain and oil seeds, as well as the upgrade of the fish sector and aquaculture in Ukraine.

The European Investment Bank will act as the lender under the Project, while Ukraine will be the borrower of resources through the Ministry of Finance, which jointly with the Ministry of Agriculture and Food and in cooperation with Ukreximbank JSC will carry out a selection of projects as well as monitor their implementation.

The EIB loan funds can cover up to 50% of the identified projects. The rest will be financed by own funds of participating banks or by final beneficiaries. Therefore, the Project aims to accumulate financial resources in an amount equivalent to at least EUR 800 million.

See more: Poland grants Ukraine EUR 1 billion credit line. PHOTO
 
 
 
 up