October 26, 2023

Ukraine's poultry, grain producers to be supported with funds by US government agency

The United States International Development Finance Corporation (DFC) has approved five new projects in Ukraine, with a total value of more than US$380 million aimed at supporting food security, small businesses, the healthcare system and international trade, the press service of the Ministry of Economy of Ukraine reported.

"Specifically, DFC has allocated US$250 million to support the efforts of Ukrainian poultry farmers and grain producers to mitigate the consequences of Russia's war against Ukraine," the statement said.

The US government agency also entered into two separate agreements totaling US$60 million with Ukrainian banks to mobilise capital to continuously support small and medium-sized businesses by facilitating their access to financing in Ukraine. It is noted that USAID will support each of these transactions with technical assistance.

Micro-enterprises and SMEs will be able to obtain financing from banks with relaxed requirements as DFC guarantees will be used to supplement borrowers' collateral.

Another project concerns US$50 million in guarantees for the International Finance Corporation's (IFC) Global Trade Finance Program, which has expanded Ukrainian banks' access to international trade finance.

"This project supports critical flows of both imports and exports for Ukrainian companies," the ministry noted.

- Interfax-Ukraine