Ministry of Economy, Environment and Agriculture discusses establishing Paying Agency with World Bank to support Ukrainian farmers

Deputy Minister of Economy, Environment and Agriculture of Ukraine Denys Bashlyk met with representatives of the World Bank.

The parties discussed technical, financial, and organizational aspects of establishing a dedicated Paying Agency, aimed to facilitate chanelling financial support from the European Union to the agricultural sector of Ukraine.

Denys Bashlyk emphasized that the Law of Ukraine "On State Support for Agriculture in Ukraine" provides for the creation of core institutions based on the principles of the EU Common Agricultural Policy (CAP), including the Paying Agency.

"The Paying Agency is an institution responsible for administering financial support in agriculture in line with EU standards. It’s mission is to provide timely and accurate payments of state support to Ukrainian agricultural producers," Denys Bashlyk stressed.

In particular, the Paying Agency shall ensure:

- Transparency in the use of budget and international resources.

- Effective financial control, including verification of the legitimacy of expenditures and compliance with EU and Ukrainian legislation.

The parties also discussed continued cooperation with the World Bank on implementing programs to support and restore Ukrainian agriculture, as well as further support for the State Agrarian Register.