The State Budget of Ukraine has received a loan of USD 230 million from the Government of Japan under the World Bank’s Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project
The funds were raised from the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund.
“During the war, agriculture suffers significant losses, which in turn threatens food security not only in Ukraine but also around the world. Raising funds under the ARISE project is an important contribution to ensuring access to financing for Ukrainian agricultural businesses. We are grateful to the team of the World Bank and the Government of Japan for their timely support from the first days of the full-scale invasion,” said Minister of Finance of Ukraine Sergii Marchenko.
The ARISE project aims to support agricultural producers’ access to finance through concessional lending (compensation for expenses under the 5-7-9 programme) and improve small agricultural enterprises’ access to finance through grants.
The project’s financing currently stands at USD 550 million, of which:
- USD 500 million to finance the State Programme “Affordable Loans 5-7-9%” in 2023-2024 with a focus on agricultural enterprises.
- Almost USD 50 million is envisaged for grants for small agricultural producers.
