The EU Will Allocate Additional Funding for the Export of Ukrainian Grain

The European Union has adopted a new grain program financing program. The EU allocates an additional 1 billion euros for the export of Ukrainian grain. The money will be allocated as part of the Paths of Solidarity program. This is stated in the press release of the Ministry of Agrarian Policy.

Funds for financing programs for grain export will be received in different ways. The European Commission allocates grant funding in the amount of 250 million euros. The Connecting Europe Facility fund allocates another 50 million euros. The remaining funds will be provided by the European Investment Bank (300 million euros), the European Bank for Reconstruction and Development (300 million euros), and the World Bank (100 million euros).

The first tranche of 250 million euros from the European Commission will be provided as soon as possible. The remaining tranches will come gradually until the end of 2023. The funds will be spent on the modernization and construction of infrastructure facilities that will increase the capacity of border checkpoints.