The Agricultural Policy and Food Ministry of Ukraine and the Export-Import Bank of China signed a memorandum of cooperation to support agricultural priority projects.

The memorandum allows Ukraine raising funds in the amount of $ 3 billion to finance specific projects in the agricultural sector, ForUm learned from the Agriculture Ministry press office.

"The signing of a memorandum of $ 3 billion allocation for Ukrainian agricultural sector development is an intermediate solution in the framework of cooperation agreements between the leaders of our countries. It is also the result of collaboration between the National Banks, in particular, it is a logical consequence of the swap currency agreement signing," the agricultural policy and food minister of Ukraine Mykola Prysiazhniuk said, putting his signature under the memorandum.

The head of the National Bank of Ukraine Serhiy Arbuzov, who was present at the signing ceremony, underlined the uniqueness of the document both in terms of the sum and its provision conditions.

"China has shown flexibility on this issue, and we are very grateful for that. In our turn, we will not let down and will supply China with the high quality agricultural products," he said.

Prysiazhniuk also expressed confidence that such financial strength will allow, first, to improve and increase the volume of agricultural products and foodstuffs trade and second, to promote the flow of new investments in the agricultural sector, which will increase productivity and improve financial opportunities for retooling and farmers’ activity.

The head of the Agriculture Ministry also expressed the hope that upon settling all the details, the process will go fairly quickly. He added that according to the memorandum, Ukraine will be able to raise funds to finance specific projects in the agricultural sector.
"The arrangements stipulated in the memorandum allow initiating further negotiations on the loans granting and the guarantees which is a condition of the Ex-Im Bank of China. Currently, the loan terms and interest rates are being discussed," Prysiazhniuk said.

The Deputy Chairman of the Ex-Im Bank of China Zhu Xinjiang, in turn, stressed that Ukraine is a very good and reliable partner for China. "In recent years our relationship has become very close. So, we are ready to work with you in many directions, especially in agriculture," he said.

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