Ukraine expects to receive $200 mln from World Bank for agricultural programs

Ukraine expects to receive $200 mln from World Bank for agricultural programs

Ukraine expects to receive $200 million from the World Bank under the Payment by Results (PbR) program for the agricultural sector.

This issue was discussed during a meeting of Acting Agrarian Policy and Food Minister of Ukraine Maksym Martyniuk with representatives of the World Bank before the opening of the largest trade fair International Green Week in Berlin, an Ukrinform correspondent reported with reference to negotiators.

“We discussed a new format entitled Payment by Results (PbR). We are in negotiations on the program and the results we want to achieve. Based on the talks, we receive funding from the World Bank in the amount of $200 million,” the sources close to the negotiation process said.

They explained that they were talking about a loan that would be provided directly to the Finance Ministry. It will be distributed among the main areas of agriculture: land relations, food security, forestry.

At the moment, the structure of the program is being formed and coordinated with all bodies. The final result will be by February 2019 after the WB Board of Directors held a meeting.

The entire program is calculated for three years.

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