US To Invest $44Mln In Boosting Ukraine's Grain Shipping Capacity - Aid Agency

WASHINGTON (UrduPoint News / Sputnik - 03rd March, 2023) The Biden administration is investing $44 million working with three US companies to expand Ukraine's annual shipping capacity to export its grain harvest by 3.35 million tons a year, the US Agency for International Development (USAID) said in a press release on Thursday.

"Today, the US Agency for International Development (USAID) announced three new partnerships to help Ukraine overcome immediate and long-term export logistics challenges caused by Russia's full-scale war," the release said.

USAID, Grain Alliance, Kernel, and Nibulon plan to make combined investments of more than $44 million to support storage and infrastructure expansion in Ukraine's agriculture sector, the agency said.

"The investments are projected to increase Ukraine's grain shipping capacity by more than 3.35 million tons annually, bolstering Ukraine's economy and bringing much-needed grain to the global market," the release said.

The co-investments include $8 million from the USAID Agriculture Resilience Initiative-Ukraine (AGRI-Ukraine) and more than $36 million from these three private sector partners. The transshipment investments will increase grain export operations at three terminals: Izmail and Reni in Ukraine on the Danube and Cierna nad Tisou in Slovakia, the release said.