KYIV. Sept 8 (Interfax-Ukraine) – Kyiv-based Bank Credit Dnepr has become partner of the USAID project Agriculture and Rural Development Support (ARDS).
The parties signed a memorandum of cooperation on Thursday, the bank said in a press release.
Under memorandum, the parties signed plans for interaction with the aim of developing agrarian financing, raising awareness of small- and medium-sized agricultural producers in the segment of vegetables, berries, fruits, meat and dairy products about banking products.
The memorandum also stipulates that Bank Credit Dnepr will act as an advisor to the grant committee of the USAID project, which will consider applications from small- and medium-sized agricultural producers for project grants for the purchase of equipment for the production, processing and storage of vegetables, berries and fruits, as well as meat and dairy products.
As the USAID ARDS office told Interfax-Ukraine, the memorandum also provides for a partnership between the bank and the USAID project to improve the access of small- and medium-sized agricultural producers to lending. In particular, experts from Bank Credit Dnepr together with the USAID ARDS project will conduct consultations and training for small- and medium-sized agricultural producers on issues related to the preparation of a package of documents for attracting bank financing.
The USAID ARDS project was launched in September 2016 and will last until the end of July 2020.
The project will support broad-based, resilient economic growth through a more inclusive, competitive, and better governed agriculture sector that provides attractive livelihoods to rural Ukrainians. It will create a better enabling environment for agricultural small and medium enterprises by strengthening the capacity of the Ministry of Agriculture to implement sector reforms, by developing a transparent legal framework for agricultural land markets, and by implementing reforms that attract irrigation system modernization investments. The Agriculture and Rural Development Support Project will improve agriculture sector competitiveness by supporting agricultural SMEs to introduce international quality and safety standards. ARDS will support rural development by expanding employment and income opportunities and supporting target rural communities to develop viable economic strategies that stimulate economic growth.