$30 billion is needed to restore the agricultural sector of Ukraine

28/03/2023 16:41

The World Bank estimates the direct losses of the agricultural sector of Ukraine during the year of the war at $8.72 billion, while the total losses of the industry amount to $31.5 billion, writes agronews.ua.

According to the SB report, the biggest losses, about 46% of the total amount of losses, were caused by a decrease in the prices of export-oriented goods (wheat, barley, corn and sunflower seeds). This is followed by losses from a decrease in the production of annual and perennial crops (44%), a reduction in animal husbandry and fishing (6%), as well as an increase in production costs in agriculture (3%).

At the same time, the total needs for reconstruction and restoration of the industry are estimated at $29.7 billion over 10 years. This year alone, $600 million is needed to rebuild damaged assets and resolve the issue of liquidity.

To restore the agricultural sector of Ukraine in the long term, funds are needed for:

completion of reconstruction or replacement of war damage;

extending direct support to farmers and banks (by supporting the liquidity of agricultural loans) over several production seasons to help restore agricultural production;

supporting the long-term recovery of agricultural production with the aim of increasing diversity, climate resilience, food and energy integration, as well as environmental and social sustainability in accordance with the requirements of the "EU Green Course";

increasing investment in government institutions that provide agricultural services (sanitary and phytosanitary), ensure food safety, land monitoring and registration, soil testing for precision agriculture, agricultural research and advisory services, training and advanced training of farmers and workers in other agribusiness industries, etc.) .

Humanitarian demining in Ukraine will cost $29.7 billion. According to the World Bank, $8.9 billion is needed to restore water resources and irrigation systems.

 

The World Bank estimates the direct losses of the agricultural sector of Ukraine during the year of the war at $8.72 billion, while the total losses of the industry amount to $31.5 billion, writes agronews.ua.
According to the SB report, the biggest losses, about 46% of the total amount of losses, were caused by a decrease in the prices of export-oriented goods (wheat, barley, corn and sunflower seeds). This is followed by losses from a decrease in the production of annual and perennial crops (44%), a reduction in animal husbandry and fishing (6%), as well as an increase in production costs in agriculture (3%).
At the same time, the total needs for reconstruction and restoration of the industry are estimated at $29.7 billion over 10 years. This year alone, $600 million is needed to rebuild damaged assets and resolve the issue of liquidity.
To restore the agricultural sector of Ukraine in the long term, funds are needed for:
completion of reconstruction or replacement of war damage;
extending direct support to farmers and banks (by supporting the liquidity of agricultural loans) over several production seasons to help restore agricultural production;
supporting the long-term recovery of agricultural production with the aim of increasing diversity, climate resilience, food and energy integration, as well as environmental and social sustainability in accordance with the requirements of the "EU Green Course";
increasing investment in government institutions that provide agricultural services (sanitary and phytosanitary), ensure food safety, land monitoring and registration, soil testing for precision agriculture, agricultural research and advisory services, training and advanced training of farmers and workers in other agribusiness industries, etc.) .
Humanitarian demining in Ukraine will cost $29.7 billion. According to the World Bank, $8.9 billion is needed to restore water resources and irrigation systems.
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