The United States announced new partnerships to develop Ukraine's agricultural sector and grain production
New investments will focus on several terminals - including Izmail and Reni in Ukraine
On Thursday, the United States announced three new partnerships to support Ukraine's agricultural sector and help supply the world with grain, USAID officials told CNN.
Ukraine is considered a key breadbasket for much of the world. Agriculture in Ukraine generates more than 40% of total export revenues.
According to Kyiv's Economy Ministry, the country's economy shrank by more than 30% in 2022 after Russia's invasion destroyed infrastructure and damaged businesses.
USAID's new partnerships with Grain Alliance, Kernel, and Nibulon are projected to increase Ukraine's grain transportation capacity by more than 3 million tons per year, officials said. Each company has a long history of operations in Ukraine.
Working together, USAID and these organizations plan to invest $44 million to support the expansion of storage facilities and infrastructure in Ukraine's agricultural sector.
The new investments, which USAID and its partners announced this week, will target several terminals – Izmail and Reni in Ukraine, both on the Danube, and Chorna nad Tisou in Slovakia – where they expect grain exports to increase. Operations will include building berths where ships are loaded.
Background. As a reminder, Nibulon has changed its management model and board of directors.
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