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

Foreign Trade and Development Cooperation Minister Liesje Schreinemacher made this commitment at the World Bank’s Spring Meeting in Washington.

According to Schreinemacher This is the first concrete implementation in the area of ​​recovery aid of the 2.5 billion euros that the Netherlands pledged to Ukraine earlier this year. In this amount, the focus was on military support, but Schreinemacher assures that other support options are also carefully considered.

“40 million euros are specifically used for agricultural companies so that they can buy cereals this season or replace broken down agricultural equipment,” she explains. “These businesses simply take out a loan from a local bank, but as banks are naturally loan-averse, there will be a guarantee that the bank will get their money back at all times. Then the bank is also inclined to grant a loan faster.

According to Schreinemacher, this has not only helped Ukraine’s agricultural sector. The support would also be good for global food security, as Ukraine exports a lot of grain.

The remaining amount of 100 million euros is intended not only for the purchase of generators, but also for the repair of roads, for example. The generators should not be needed until next winter and will therefore be delivered in the fall. (AP)