The state budget of Ukraine received a loan in the amount of $230 million from the Japanese government within the framework of the World Bank project “Emergency Project for Providing Inclusive Support for the Recovery of Agriculture in Ukraine (ARISE)”. This was reported by the press service of the Ministry of Finance of Ukraine.
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Funds were raised from the Trust Fund for Assistance to the Necessary Expansion of Lending for Ukraine (ADVANCE Ukraine).
ARISE Project
The goal of ARISE is to support agricultural producers’ access to financing through preferential lending (compensation for expenses under the “5-7-9%” program) and to improve small farms’ access to financing through grants.
The volume of project financing in currently amounts to $550 million, of which:
- $500 million is aimed at financing the State Program “Affordable Loans 5-7-9%” in 2023-2024 with a focus on agricultural enterprises. Almost $50 million is provided for grants for small agricultural producers.
“Under war conditions, agriculture suffers significant losses, which in turn threatens food security not only in Ukraine, but throughout the world. Raising funds within the framework of ARISE is an important contribution to providing access to financing for agricultural businesses in Ukraine. We are grateful to the team of the World Bank and the Japanese government for their timely support from the first days of the full-scale invasion,” said Minister of Finance of Ukraine Sergei Marchenko.