Bayer/IFC to partner in Ukraine project
Bayer CropScience and the International Finance Corporation (IFC) are to partner in a venture to modernise agriculture in Ukraine and help the country maximise its farming potential. The IFC advisory project, "Sustainable Development of Small- and Medium-Scale Farmers in the Ukraine", is supported with funds from the Austrian Ministry of Finance. Bayer will help farmers gain broader access to agricultural knowledge, technologies and inputs such as improved seeds and crop protection solutions. The company aims to increase agricultural productivity at targeted farms, creating a demonstration example for the sector. The partnership follows an earlier venture involving the IFC, Bayer and two Ukrainian commercial banks to expand access to finance for Ukrainian farmers and make high-quality crop protection products more affordable for independent farmers and smaller agricultural companies. The IFC has so far invested over $600 million in Ukraine’s farming sector.