Agribusiness in the Ukraine will get a boost from the European Bank for Reconstruction and Development (EBRD) and the Ukrainian government after a meeting regarding an action plan focused on the country’s agricultural sector.
The International Finance Corporation and the United Nation’s Food and Agriculture Organization also attended the meeting. Company executives in attendance worked to identify the strongest challenges to investment and created a list of priorities that will be sent to the Ukrainian government following elections in October.
"Ten of the participating agribusiness companies stated in a questionnaire that they are ready to invest $1 billion in the next year,” Gilles Mettetal, the EBRD’s agribusiness director, said. “The EBRD can help them work consistently with the government to attract new financing to Ukraine and to ensure continuity in the reform process."
The group's top priority is to create an investment environment that has more stability and to create clear regulations on import/export requirements and taxes. A functional land lease market is also a priority. Education standards are a challenge that the group will work to overcome, as is the need for simplified regulations for the overall economy.