11 Oct 2024 16:20

USAID raises nearly $1.75 bln in additional investment to expand AGRI-Ukraine program

MOSCOW. Oct 11 (Interfax) - The United States Agency for International Development (USAID) has raised nearly $1.75 billion in additional investment from nine new private sector partners, international financial institutions, and other donor organizations to expand the AGRI-Ukraine initiative, which supports Ukraine's agricultural sector, Ukrainian media reported, quoting USAID Ukraina as saying in a statement.

USAID Ukraina said that thanks to the new partnerships, the total amount raised under the AGRI-Ukraine initiative has reached more than $2.26 billion in investment from the private sector and partners since July 2022. This means that for every $1 invested by the U.S. in the AGRI-Ukraine initiative, USAID has drawn around $6.45 from other donor organizations and private sector investors.

The donor organization's new partners include Astarta Agro Holding, Best Leasing, Credit Agricole Bank, the U.S. Development Finance Corporation (DFC), the International Finance Corporation (IFC), IMK Agro Holding, OTP Bank, Universalna Insurance Company, and the U.S. Department of State's Office of Weapons Removal and Abatement.

AGRI-Ukraine has assisted over 15,000 Ukrainian farmers (or 34% of the country's registered agricultural producers) to obtain seeds, fertilizer, plant protection products and product storage equipment, as well as financial resources for agricultural production since July 2022. This assistance helped preserve and harvest more than 5.5 million tonnes of grain, which brought over $1 billion in income to the Ukrainian economy, USAID Ukraina said.