Bayer CropScience and the International Finance Corp. (IFC), a member of the World Bank Group, announced a partnership to support modernization of agriculture in Ukraine and help the country maximize its farming potential.
The project, backed financially by the Austrian government, will help farmers gain broader access to agricultural knowledge, technologies and inputs such as improved seeds and innovative crop protection solutions, Bayer said. As a key private sector partner, Bayer said it aims to “increase agricultural productivity at targeted farms, creating a demonstration example for the entire 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.”
Small- and medium-scale growers are farming about 60% of the agricultural land in Ukraine. Jesper Kjaer, IFC’s head of advisory services in Europe and Central Asia, said the six-year advisory project 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,” Kjaer said.
The 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. Its aim is to make high-quality crop protection products more affordable for independent farmers and smaller agricultural companies, according to Bayer.