Bayer CropScience and the International Finance Corporation (IFC), a member of the World Bank Group, have announced a new partnership to support the modernisation of agriculture in Ukraine, and help the country maximise its farming potential.
According to the partnership, securing harvests and increasing agricultural productivity are key factors for global food security, and will be a major focus of the initiative.
The new IFC advisory project “Sustainable Development of Small- and Medium-Scale Farmers in the Ukraine” is supported by funds from the Austrian Ministry of Finance.
In its role, Bayer CropScience will help farmers gain broader access to agricultural knowledge, technologies and inputs such as improved seeds and innovative crop protection solutions, aiming to increase agricultural productivity at targeted farms and creating a demonstration example for the sector.
“The main goal is to achieve a more sustainable way of growing crops, in the quantities we need to help advance food security”, said Liam Condon, Bayer CropScience CEO, at the launch event in Kiev. “We are supporting farmers in the Ukraine and worldwide by providing them with tools, technology and training, helping to raise both agricultural productivity and environmental compatibility. This new partnership is another example of how Bayer CropScience leverages the potential of collaboration in modern agriculture.”
The new advisory partnership follows an earlier engagement during which IFC, Bayer and two leading Ukrainian commercial banks partnered to develop a risk-sharing facility to expand access to finance for Ukrainian farmers, and make high-quality crop protection products more affordable for independent farmers and smaller agricultural companies.
“Small- and medium-scale farmers are farming around 60 percent of the agricultural land in Ukraine," said Jesper Kjaer, IFC’s head of advisory services in Europe and central Asia. "Our new initiative aims to help them become more competitive and efficient so that they can increase production in a sustainable manner. Our work in Ukraine is part of our regional efforts to support development of the agribusiness which is one of the most important sectors for generating employment in the region."