According to Victor Kantsurak, State Secretary of the Ministry of Agrarian Policy and Food of Ukraine, the full-scale Russian invasion of Ukraine has led to the destruction of around 30% of the entire potential of the Ukrainian agricultural sector.
According to Kantsurak, almost 20% of agricultural lands are occupied. “Large areas are mined or contaminated with explosive objects,” he said
The State Secretary emphasized the importance of financing and supporting agricultural producers, saying, “The issue of providing financing and support for agricultural producers is more relevant than ever. The State Agrarian Register and the Partial Credit Guarantee Fund in Agriculture were created for this very purpose.”
Inessa Andrietti, a member of the Partial Credit Guarantee Fund’s board, said that a survey of over 2,000 small farmers revealed that most agricultural producers plan to expand their production areas and seek investments for this purpose.
“56% of agricultural producers plan to expand their production in 2024, and 53% of farmers intend to obtain investment loans for land acquisition. These data provide an understanding of how much the Fund’s guarantees are in demand among farmers today,” she said.
According to reports, the Kyiv School of Economics (KSE) estimates the losses inflicted on the Ukrainian agricultural sector at more than $80 billion. These losses include destroyed agricultural machinery worth $5.8 billion, losses from the loss of finished products amounting to $1.97 billion, and damage to grain storage facilities amounting to $1.8 billion.
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