KIEV, Nov. 8 (Xinhua) -- Ukraine will get a loan of 700 million U.S. dollars from the World Bank (WB) for agriculture development in 2023-2024, the Interfax-Ukraine news agency reported Wednesday.
The loan, to be provided on preferential terms, will be used to offer affordable loans to farmers for agricultural production and food processing and give grants to small agricultural producers involved in cattle, goat or sheep farming, said the report.
Ukraine's agriculture sector, which contributes about 10 percent to the country's gross domestic product, was hit hard by the Russia-Ukraine conflict.
According to the Ukrainian authorities, the confirmed direct losses of the agriculture sector from the conflict exceeded 8.7 billion dollars. ■
