The International Finance Corporation (IFC) from the World Bank Group has announced the launch of a new five-year advisory program aimed at developing the dairy industry in Ukraine.
“The five-year project, implemented in partnership with the Austrian government, is expected to help 40,000 small- and medium-scale dairy farmers access financing, boost production, cut greenhouse gas emissions, and gain access to export markets. As well as supporting the development of dairy cooperatives, it will help farmers implement climate-smart, sustainable farming practices that meet global requirements,” reads a press release from the IFC.
“Ukraine has the potential to become a low-cost producer of high-quality milk. Our new advisory program will help bring in the right expertise, skills and technology, which will help crowd-in more private investment, unlock the industry’s potential, and enable the country to become a global dairy player,” Jason Pellmar, IFC Regional Head for Ukraine, Moldova, and Belarus, said.
Investing in the modernization, growth, and efficiency of the industry would also enable Ukraine to double its milk production by 2030, Pellmar added.
In the longer term, the IFC expects the advisory initiative to help bring in new investment. A one million tonne increase in production could create additional investment opportunities, estimated at about $1 billion.
