Agrofinfund to allocate $112 mln for agricultural projects
KYIV. Feb 24 (Interfax) - A subsidiary of the Agrarian Fund of Ukraine, Agrofinfund, will earmark around UAH1 billion ($111.9 million at the current rate) to support projects in the agricultural sector in 2014, acting Agricultural Policy and Food Minister of Ukraine Mykola Prysiazhniuk told Interfax.
"The Agrarian Fund today has funds on the balance sheet to buy grain and some of the funds - around UAH1 billion- could be allocated in this direction. This is enough for a start," he said.
Prysiazhniuk said that top-priority directions for financing by Agrofinfund are projects in greenhouse planting, poultry and livestock breeding - sheep breeding in particular.
Agrofinfund will finance 25-30% of the cost of the project on the repayment basis without interest rates, and there will be a condition that the initiator of the project will pay around 30% of its own funds and only 40% of the funds could be raised from an investment bank," he said.
Agrofinfund was created on February 13, 2014.
The official exchange rate was UAH8.939/$1 on February 24.
