World Bank Allocates $25 Million to Ukrainian Farmers for Grain Storage

The World Bank is considering allocating $25 million to small and medium-sized Ukrainian farmers for crop storage. This funding is necessary due to export restrictions and the threat of Russian attacks on ports and grain storage facilities. The discussion took place during a meeting between Minister Taras Vysotsky and representatives of the World Bank and the International Finance Corporation (IFC). The financing will be directed under the ARISE program to create crop storage capacities. The parties agreed to develop financing mechanisms and expedite support procedures. The World Bank will also explore the possibility of attracting additional resources for liquidity in the agricultural sector through the "Affordable Loans 5-7-9%" program. Special attention will be given to small farms that cultivate about 1.1 million hectares. The need for additional storage space has increased due to issues with maritime logistics. The World Bank and IFC are also considering support for transport infrastructure and the restoration of facilities damaged by attacks. Long-term solutions for modernizing agricultural enterprises and constructing storage facilities were also discussed.

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