Ukraine joins International Fund for Agricultural Development

Ukraine has become a member state of the International Fund for Agricultural Development (IFAD) that works to develop rural economies and food systems.

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

“This is a strategic step that the Ukrainian Agrarian Policy and Food Ministry has been working on, and, following 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 opportunities and prospects that will contribute to the development of the agricultural sector as a whole,” Koval noted.

In his words, IFAD’s priority is the development 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 Development (IFAD) is a specialized agency of the United Nations, whose purpose is to mobilize additional resources provided on preferential terms for agricultural development 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 Development (IFAD).

Photo: enb.iisd.org