Ukraine to receive $50 million grant under World Bank project for agricultural recovery

On July 11, Ukraine and the International Bank for Reconstruction and Development (IBRD) signed an agreement for additional financing of USD 50 million. The signing took place on the sidelines of the Ukraine Recovery Conference, held on July 10–11 in Rome, Italy.

The funding is provided under the World Bank’s Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project. The funds are being allocated as a grant to support small farms’ access to finance through the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF).

The agreement was signed on behalf of Ukraine by Minister of Finance Sergii Marchenko, and on behalf of the World Bank by Bob Saum, Regional Country Director for Eastern Europe. The signing ceremony was also attended by the Minister of Agrarian Policy and Food of Ukraine Vitaliy Koval.

Thanks to this financing, agricultural producers will be able to receive grant assistance to support the development of their farms.

“Ukraine is one of the world’s key food suppliers, and stable agricultural production in our country is critically important for global food security. russia’s aggressive war is causing large-scale damage to the agricultural sector, creating risks not only for Ukraine, but for millions of people beyond its borders.

This additional grant funding under the existing ARISE project with the World Bank is both timely and essential for ensuring continued access to financing for Ukraine’s agribusiness. Since 2023, ARISE has supported thousands of small farms operating under wartime conditions,” – said Minister of Finance Sergii Marchenko, expressing gratitude to the World Bank team for their timely support since the first days of the full-scale invasion.

Ukraine has previously received USD 595 million in funding under the ARISE project from the World Bank: a USD 230 million loan from the ADVANCE Ukraine Trust Fund (supported by the Government of Japan), and a USD 365 million grant from the URTF.