6 May 2024 15:44

USAID announces $60 mln in support for Ukraine's agrarian sector

MOSCOW. May 6 (Interfax) - The United States Agency for International Development (USAID) has announced an additional $60 million to support the Ukrainian agricultural sector, Ukrainian media reported citing USAID Deputy Administrator Isobel Coleman as saying in an interview with Western media.

The new Harvest program launched by USAID is aimed at mitigating the impact of the crisis on agricultural production in Ukraine, Coleman said.

The initiative is designed to improve Ukrainian farmers' production efficiency, sustainability, and competitiveness, while helping lay the groundwork for the sector's long-term and sustainable growth, USAID said.

The program should foster a regulatory and business environment in Ukraine to promote innovations and help draw private investment to help Ukrainian farmers, it said.

Coleman said agriculture remains a key driver of the Ukrainian economy, generating over 60% of the country's export revenue in 2023.

The Harvest program will be part of USAID's Agriculture Resilience Initiative-Ukraine (AGRI-Ukraine). USAID has invested over $350 million in AGRI-Ukraine and leveraged more than $370 million from the private sector and other donors since July 2022, it said.