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Ukraine's parliament approves Ukraine-EIB EUR 400m deal for agriculture projects

Ukraine's parliament approves Ukraine-EIB EUR 400m deal for agriculture projectsThe Verkhovna Rada has ratified an agreement between Ukraine and the European Investment Bank (EIB) on the issue of EUR400 million for projects in the agricultural sector.

Some 269 deputies voted for the decision.

"The ultimate recipient of funds is the state of Ukraine, which with the assistance of the Ministry of Agricultural Policy and Food and Ukreximbank will transfer funds through the banking system to ultimate beneficiaries to finance up to 50% of the cost of [agricultural] projects," Deputy Finance Minister Yuriy Butsa said.

As reported, former Prime Minister of Ukraine Arseniy Yatsenyuk in late December 2015 signed a financial agreement on raising a EIB loan in the amount of EUR400 million for projects in the agricultural sector of Ukraine.
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