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Through the World Bank, the Netherlands is investing 100 million euros in guarantees to finance agricultural companies in Ukraine, for example, in generators to help the country through the coming winter.

Foreign Trade and Development Cooperation Minister Liesje Schreinmacher made the pledge at the World Bank’s spring meeting in Washington.

As stated therein Shrinemaker This is the first concrete implementation of the recovery of the 2.5 billion euros promised by the Netherlands to Ukraine earlier this year. Schreinmaker assures that the emphasis is on military support, but other support options are also being carefully considered.

’40 million euros are used specifically for agricultural companies so that they can buy grain this season or replace broken agricultural equipment,’ he explains. “These companies borrow from a local bank, but because banks are naturally hesitant about lending, the bank is always guaranteed to get the money back. Then the bank tends to give out the loan quickly.’

According to Schreinemacher, this has not only helped the Ukrainian agricultural sector. This support is also good for global food security, as Ukraine exports a lot of grain.

The remaining 100 million euros are intended not only for the purchase of generators, but also for the repair of roads. The generators won’t be needed until next winter, so deliveries will be in the fall. (AP)