The World Bank has allocated over UAH 390 million to Ukraine to support farmers

Ukraine has received another financial assistance from the World Bank, which will contribute to the development of the agricultural sector. A grant of over UAH 390 million will be directed to support farms and other agricultural producers. This tranche is the second this year, which allows strengthening economic stability in the agricultural sector.

As reported by the Minister of Agrarian Policy and Food, Vitaliy Koval, the first tranche of over UAH 386 million has already been paid to 7,766 thousand farmers. These funds have significantly strengthened financial support for Ukrainian agricultural producers, which has contributed to increasing the efficiency of agricultural production.

The new tranche, the amount of which exceeds UAH 390 million, will be used to provide assistance to farmers, in particular for keeping farm animals and to cover the costs of land cultivation. One of the key expenditure items will be a subsidy for keeping cows, for which almost 56.5 million hryvnias are allocated. This is a significant amount that should contribute to the preservation of the cattle population in the country.

In addition, the grant provides for the allocation of about 2.5 million hryvnias to support the keeping of sheep and goats, which is also an important direction of Ukraine's agrarian policy. Since small-scale livestock farming plays an important role in the development of agriculture, this assistance will help farmers maintain competitiveness in this area.

The main part of the allocated funds will be directed to the payment of subsidies to agricultural producers. For each hectare of land used in agriculture, 4 thousand hryvnias are provided. This will allow farms to reduce costs for land cultivation, which is especially important in a period of rising prices for fuel and fertilizers.

Thanks to such grants, farmers will be able to use land resources more efficiently, improve conditions for keeping livestock, and ensure greater productivity in agriculture. Such financial support should have a positive impact on the development of the Ukrainian agrarian economy and ensure stability in the agricultural sector for the future.