KYIV, Oct 31 – The World Bank announced the allocation of $550 million, which will help more than 90,000 farmers in Ukraine attract preferential loans and grants for agricultural production.

"The Ukraine Agriculture Recovery Inclusive Support Emergency (ARISE) Project will provide access to affordable finance for agricultural producers in 2023 and 2024. The project will help mobilize about $1.5 billion in working capital for farmers and provide grants to small farms for agricultural production. It will also complement the World Bank’s support for agriculture in Ukraine, which is designed to accelerate private investments in agriculture and strengthen partial credit guarantees for small farmers," the World Bank said on its website.