Agriculture will be one of the key areas of activity of the newly created Ukraine Development Fund (UDF)

Agriculture will be one of the key areas of activity of the newly created Ukraine Development Fund (UDF). The UDF presentation states that up to $7 billion in investments can be attracted in agriculture, including funds to replace damaged assets and equipment.

The fund will focus on five major sectors of the Ukrainian economy: energy, infrastructure, agriculture, manufacturing, and IT. In total, more than $50 billion of potential investment market may be available for private capital.

The UDF's objectives will be to develop solutions and financial instruments to reduce risks, including Ukraine's involvement in state-supported investment projects and filling financing gaps by providing preferential financing and support in project preparation, according to representatives of the Ministry of Agrarian Policy and Food of Ukraine.

Ukraine has set a similar goal for itself, planning to increase its gross domestic product (GDP) to $1 trillion within ten years. This was stated by First Vice Prime Minister Yulia Svyrydenko at the Ukraine Recovery Conference in London on June 21.

As part of its support for Ukraine's economic recovery, the European Bank for Reconstruction and Development (EBRD) plans to sign documents to strengthen support for the country's agricultural sector this week. A conference on Ukraine's recovery is taking place in the UK on June 21, and the EBRD has declared its readiness to continue supporting Ukrainian farmers and provide funding at least as much as before.

The EBRD has also announced the launch of the AgVenture competition, which will consider applications from innovative agribusiness companies from all countries in which the EBRD invests. The aim of this initiative is to find ways to address challenges in the food system.