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Vinnitsa, Ukraine, June 2, 2008
—IFC, a member of the World Bank Group, in cooperation with the Austrian Ministry of Finance and AGRANA Fruit Ukraine, recently launched a program in Ukraine’s Vinnitsa region that will help local fruit producers benefit from opportunities presented by a growing market. The Apple Re-Sorts Program, the first of its kind, will also help the fruit producers become more competitive locally and internationally.
The new program aims to build a globally competitive and sustainable supply chain in the apple production sector, helping support the long-term growth for Ukraine’s apple producers. It will introduce food safety standards and a traceability system, helping ensure that products comply with international best practices and market requirements. This initiative is based on eight years of research conducted by AGRANA in Germany and Hungary.
“I’m pleased that IFC is active in this region, and it is great to see the results of IFC’s investments and advisory work to date,” said Oleksander Dombrovskyy, Governor of Ukraine’s Vinnitsa region, speaking at the launch.
More than 120 participants, including fruit processors, banks, insurance companies, input suppliers, inspectorates, and heads of local administrations attended the ceremony. The Apple Re-sorts Program demonstrates a model approach to agribusiness in the region, one that is based on partnership, trust, and stability between IFC, AGRANA, fruit producers, and other fruit sector stakeholders. This will lead to higher productivity, stable yields, lower production costs, and higher product quality,” said Wiktor Kharkov, General Director of AGRANA Fruit Ukraine.
This initiative is part of the IFC Vinnitsa Fruit Supply Chain Development Project. Since launching in 2005, the project has enabled nearly $1 million in new lending from financial institutions to farms and has trained more than 260 farmers on improving practices. The project has also helped 25 farms increase production by improving operations and management, which led to more than $4 million of incremental increase of revenue for clients.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit
www.ifc.org
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Ukraine became a shareholder and a member of IFC in 1993. As of March 31, 2008, IFC had invested about $887 million in 38 projects in the country. IFC’s investment program is expanding rapidly, with a focus on financial, agribusiness, construction materials, retail trade and services, energy, and infrastructure sectors. IFC also offers advisory programs on leasing, agribusiness, mortgage finance, and improving the business environment. For more information, visit
www.ifc.org/ukraine
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About the Austrian Ministry of Finance
The Austrian Ministry of Finance’s external economic program supports the development and transition process in southeast and eastern Europe. The program promotes sustainable investments to support economic growth, create jobs, and improve the business environment. Supporting local and foreign investments helps improve people’s lives and progress toward a stable and prospering region. The goal is to contribute to private sector growth by building capacity, supporting small and medium enterprises, facilitating investments, and building business partnerships between Austrian and local investors.
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