The World Bank Group, in partnership with the Swiss and Ukrainian governments, is rolling out a new financial instrument – crop receipts – across Ukraine to expand access to finance for small farmers, boosting agricultural productivity and supporting economic growth.
Crop receipts are a pre-harvest financial instrument, successfully used in a number of countries, which allows farmers to use future harvests as collateral, enabling them to purchase high-quality seeds and other essentials. They are expected to facilitate up to $520 million for Ukraine’s agricultural sector over the next two years. The nationwide roll-out of crop receipts follows a pilot advisory project in eight Ukrainian regions, according to IFC.
