The World Bank has concluded a new grant agreement with Ukraine.

The Ministry of Agrarian Policy of Ukraine reported on its website that it had entered into an agreement with the World Bank to provide grant assistance in the amount of $700 million for the restoration of agriculture.

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“The Ministry of Agrarian Policy and Food of Ukraine and the World Bank signed a grant agreement for the Multi-Donor Trust Fund for Assistance, Recovery, Reconstruction and Reform of Ukraine and a loan agreement (Emergency Project for Inclusive Support for the Recovery of Agriculture in Ukraine (ARISE)),”  the message published on the ministry’s website says.

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It is noted that as part of the agreement, Ukraine will receive assistance in the amount of $700 million. The money, among other things, will be sent to small agricultural producers specializing in breeding cows, goats or sheep. The project is scheduled for implementation in 2023 and 2024, the department specified.