OREANDA-NEWS. July 11, 2012. A Memorandum of Cooperation between the Ministry of Agricultural Policy and Food of Ukraine and the Export-Import Bank of China has been signed to support priority projects in agriculture. The memorandum allows Ukraine to obtain funds in the amount of USD3 billion to fund specific projects in the agricultural sector.

"The signing of the memorandum on allocation of USD 3 billion for the development of the agricultural sector of our country is a natural intermediate solution in the framework of cooperation agreements between the leaders of our countries. It is also the result of collaboration between national banks, in particular, is a logical consequence of the signing (last Tuesday in Beijing) a swap"- Minister of Agricultural Policy and Food Mykola Prysiazhniuk said, who put his signature to the Memorandum.

The head of the National Bank of Ukraine Serhiy Arbuzov, who was present at the signing ceremony, stressed on the uniqueness of the document as to the amount and under the terms of its provision.

"China has shown flexibility on this issue and we thank it for this, we will not fail and will supply to China agricultural products of high quality", - he said.

Mykola Prysiazhniuk also expressed confidence that the financial strength will allow, first of all, to improve and increase the volume of trade of agricultural products and foodstuffs, and secondly, to promote the access of new investments in the agricultural sector, which will increase productivity, improve financial opportunities for the farmers of the country and, accordingly, retooling.

The Minister stressed that the agreements set forth in the Memorandum, allow initiating further negotiations regarding the allocation of credit money and guarantees with respect to the grant of which is a condition of Exim Bank of China. Loan terms and interest rates are being been discussed.

Deputy Chairman of the Exim bank of China Zhu Xinjiang, in turn, stressed that Ukraine - a very good and reliable partner for China. "Our relationship has become very close in recent years and we are ready to work with you in many directions, especially in agriculture," - he said.