Business news from Ukraine

USAID allocates $60 million to support Ukrainian agriculture

5 May , 2024  

The United States Agency for International Development (USAID) is allocating 60 million dollars to support Ukrainian agriculture, USAID Deputy Administrator Isobel Coleman has said, Radio Liberty has reported.

According to Coleman, the aid package is aimed at implementing a new Harvest program to mitigate the impact of Russian aggression on agricultural production in Ukraine.

“The program aims to help Ukrainian agrarians improve production efficiency, make it more resilient and competitive in times of war, and along with that lay the groundwork for long-term sustainable development of the Ukrainian agribusiness sector. Under Harvest, USAID will help create a regulatory and business environment in Ukraine that unlocks the potential for innovation and helps leverage private business resources to help Ukrainian agribusinesses continue to feed their country and many other countries around the world,” USAID said.

Coleman noted that the Ukrainian agricultural sector remains one of the main drivers of the Ukrainian economy – in particular, it contributed more than 60 percent of export revenues in 2023. USAID adds that the Harvest program will be part of the Agriculture Sustainability Initiative in Ukraine (AGRI-Ukraine). Since July 2022, the Agency has invested more than $350 million in it, attracting another more than $370 million from other donors.