Ukraine joins International Fund for Agricultural Development

MOSCOW. Oct 28 (Interfax) - Ukraine has joined the International Fund for Agricultural Development (IFAD) and has become its 179th member state, Ukrainian Minister of Agrarian Policy and Food Vitaly Koval said.

"This prestigious organization is the only United Nations agency fully focused on agricultural transformation, rural economic development and food systems. This [IFAD's membership] is a strategic step that the Ministry of Agrarian Policy has been working on. Following the recent working meeting with IFAD representatives in Rome, we managed to become its 179th member state," Ukrainian media quoted Koval as saying on social media.

IFAD's top priority is to develop small-scale farming to help producers enhance their competitiveness, reinforce their market position and contribute to the development of the agricultural sector as a whole, he said.

Ukrainian producers will also have access to low-cost financial resources, grant support, bidding in the IFAD tenders for procurement of goods and services, as well as to investment supporting sustainable development in productivity improvement, income growth, innovative technology, crisis and climate change resilience.

"The IFAD membership gives Ukraine new opportunities and prospects, helping to develop the agricultural sector as a whole," he said.