Ukraine has officially joined the International Fund for Agricultural Development

01.11.2024 20:31 "Agro Perspectiva" (Kyiv) — Ukraine is now a member state of the International Fund for Agricultural Development (IFAD). This prestigious organisation is the only UN agency fully focused on agricultural transformation, rural economic development and food systems. This was announced by Vitalii Koval, Minister of Agrarian Policy and Food of Ukraine.

«Ukraine’s accession to the International Fund for Agricultural Development is a strategic step that the Ministry of Agrarian Policy and Food has been working on, and after the last working meeting with IFAD representatives in Rome, we managed to become the 179th member country. Membership in IFAD gives Ukraine new opportunities and prospects that will contribute to the development of the agricultural sector as a whole,» Vitalii Koval said.

According to the Minister, IFAD’s priority is the development of small farming. IFAD’s support will allow Ukrainian producers to increase their competitiveness, strengthen their market position and influence the development of the country’s agricultural sector in general.

Also, Ukrainian producers will have access to low-cost financial resources, grant support, participation in the Fund’s tenders for the procurement of goods and services, and investments to support sustainable development. In particular, in the following areas:

increasing productivity;

increase in revenues;

innovative technologies;

resilience to crises and climate change.

In addition, according to Vitalii Koval, joining the Fund will facilitate investments in the development of rural infrastructure and in technologies that help to adapt to climate change, which is critical for Ukrainian farmers working in the south of the country.

«Ukraine’s integration into the Fund not only contributes to the development of the agricultural sector, but also creates new opportunities for building a sustainable, productive and innovative agricultural sector in the country,» the Minister stressed.

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