JSC Agrarian Fund and Technical Assistance to Support the Implementation of the European Investment Bank Agri-food loan project for Ukraine have signed a Memorandum of Cooperation within the framework of a joint agribusiness lending program between Ukraine and European Investment Bank (EIB).
The memorandum provides cooperation in providing comprehensive support of value chains in the agricultural sector, namely the cultivation, processing of cereals and oilseeds. Within the framework of subprojects agreed with the EIB the parties also agreed to promote the provision of conditions for the agriculture market operation as well as for domestic agricultural producers support.
We are pleased to sign a common document certifying our cooperation beginning with JSC "Agrarian Fund". Within the framework of the signed Memorandum, the Technical Assistance project intends to unite and coordinate mutual efforts with JSC "Agrarian Fund" to identify and develop subprojects for the development of value chains for growing or processing cereals and oilseeds in accordance with the "Basic loan for agriculture - Ukraine”. Our experts also will be able to advice on the offers development for subprojects and their compliance with EIB standards, including environmental and social"- said the "Technical assistance to support the implementation of the operation "Basic loan for agriculture - Ukraine" project manager Stefan Rozenov.
According to the Chairman of the Board of JSC "Agrarian Fund" Bohdan Banchuk, such cooperation will provide an opportunity to attract significant resources for modernization and expansion of production capacity, as well as direct funds will support domestic farmers. He told that, within the framework of the project the Agrarian Fund will be able to attract significant funding for the development of existing programs and the implementation of new ones.
The project "Main loan for the agricultural sector - Ukraine" provides for Ukraine 400 million EUR, up to 30% of which can be used to support public sector infrastructure.
For reference: The project "Technical assistance to support the implementation of the operation" Basic loan for the agricultural sector - Ukraine" was implemented with the support of the European Investment Bank under the Financial Agreement between Ukraine and the European Investment Bank, ratified by the Law of Ukraine of September 20, 2016. The project aims to expand the capacity of agricultural enterprises to access long-term credit resources.