Ukraine joins International Fund for Agricultural Develment

The relevant statement was made by Ukrainian Agrarian Picy and Food Minister Vitalii Koval on Facebook, an Ukrinform correspondent reports.

“This is a strategic step that the Ukrainian Agrarian Picy and Food Ministry has been working on, and, flowing the last working meeting with IFAD representatives in Rome, we managed to become the 179th member country. Membership in IFAD provides Ukraine with the new portunities and prospects that will contribute to the develment of the agricultural sector as a whe,” Koval noted.

In his words, IFAD’s priority is the develment of small farming. With IFAD’s support, Ukrainian producers will be able to increase their competitiveness and strengthen their market positions.

Additionally, Ukrainian producers will have access to low-cost financial resources, grant support, and will be able to participate in the Fund’s tenders for the procurement of goods and services.

A reminder that the International Fund for Agricultural Develment (IFAD) is a specialized agency of the United Nations, whose purpose is to mobilize additional resources provided on preferential terms for agricultural develment in its member states.

On September 4, 2024, the Verkhovna Rada of Ukraine ratified a decision on Ukraine’s accession to the Agreement Establishing the International Fund for Agricultural Develment (IFAD).

Photo: enb.iisd.org