December 28, Prime Minister of Ukraine Arseniy Yatsenyuk has signed a financial agreement (Ukraine Agri-Food Apex Loan) between Ukraine and the European
the Agreement will attract EUR400 mln for 12 years
with a 4-year grace period to support the agricultural sector in Ukraine. The
funds will support projects in the field of growing grain and oilseeds, as well
as the upgrade of the fish sector and aquaculture in Ukraine.
The European Investment Bank will act as the
lender in the framework of the Project, while Ukraine will be the borrower of
resources through the Ministry of Finance, which jointly with the Ministry of
Agriculture and Food and in cooperation with JSC Ukreximbank
will carry out a project selection as well as monitor their implementation.
The EIB loan
funds can cover up to 50% of the identified projects. The
rest will be financed by own funds of participating banks or by final
the Project aims to accumulate financial resources in an amount equivalent to
at least EUR 800 million.