Ukraine becomes member of UN Agricultural Fund: What does this mean for Ukrainian farmers?

Ukraine has officially become a member of the International Fund for Agricultural Development (IFAD).

Source: Vitalii Koval, Ukrainian Minister of Agrarian Policy, on Telegram

Quote: "This is a strategic step that the Ministry of Agrarian Policy worked on and after the last working meeting with IFAD representatives in Rome, we managed to become the 179th member country," the minister said.

He went on to say that this organisation is the only United Nations agency dedicated solely to agricultural transformation, rural economic development, and food systems.

Membership in IFAD provides Ukraine with new options and prospects that will help to the overall growth of the agricultural sector, Koval says.

According to reports, IFAD's objective is to promote small-scale farming. Their support will allow producers to raise their competitiveness, boost their market positions, and have an impact on the overall development of the country's agricultural industry.

Ukrainian producers will also have access to low-cost financing resources, grant support, participation in Fund procurement bids for goods and services, and investments to support long-term development.

Background: The Verkhovna Rada (the parliament) of Ukraine ratified the decision on Ukraine's accession to the agreement establishing the International Fund for Agricultural Development.

Support UP or become our patron!