Ukraine is seeking access to international grants and loans

Joining global foundations, particularly the International Fund for Agricultural Development (IFAD), which is a specialized agency of the UN, means that Ukrainian farmers and agricultural producers will have more free and prompt access to international grants and loans.

According to Oksana Osmachko, Deputy Minister of Agrarian Policy and Food, joining the Fund will provide Ukrainian producers with the opportunity to obtain affordable financial resources that the Fund allocates for research and the implementation of innovative technologies to support rural development. In practice, this means free access to the Fund's database and the use of its intellectual and technical developments. Furthermore, this development will contribute to strengthening Ukraine's image as one of the largest agricultural producers in the world.

Programs for cooperation between the Ukrainian government and the Fund are already being discussed. Ukraine will determine the priority areas for assistance from the Fund itself. It is planned that these will include irrigation, increasing the export of Ukrainian agricultural products, support for farmers in frontline areas, as well as assistance for veterans and internally displaced persons. In fact, the Ukrainian government is identifying priority sectors and plans to finance these areas accordingly. Given that the country is in a state of war, Ukrainian producers need grant support and loans. At this stage, obtaining grant funds is a priority for Ukraine.

Similar work is already underway at the level of direct contacts between the Ukrainian government and global financial institutions that assist in building and reforming the country's state governance structures. In particular, the public joint-stock company "National Depository of Ukraine" and the IFC (International Finance Corporation - a member of the World Bank Group) have signed a grant agreement under which the Ukrainian side will receive up to $300,000. These funds will be directed toward the creation and implementation of an innovative Register of Agricultural Notes. For its part, the IFC supports the establishment of a modern digital Register with a wide range of functionalities. According to international experts, this will further attract financing for Ukrainian producers and create opportunities for all market players to access capital markets.

It is important to note that the goal of creating the Register of Agricultural Notes is to ensure a simple, reliable, and fast procedure for issuing agricultural notes through its electronic interaction with other public registers and the depository system. It is expected that with the implementation of the Register, an effective mechanism for fulfilling obligations under agricultural notes will also be established, including compulsory enforcement, with minimal human factor impact.