A memorandum on creation of the Chinese-Ukrainian Fund for investment in international cooperation projects was signed in Hong Kong on Friday. The structure is planning to attract USD 6 billion in the agriculture development in Ukraine, out of these, USD 600 million - next year.

"Our aim is creation of the Fund, which will promote accumulation of financial resources and promotion of projects and programs on Ukrainian agriculture development, on expansion of China-Ukraine trade in the agricultural products sphere. The fund is planning to attract about USD 600 million under a project, which will be chosen and to gradually bring the amount to USD 6 billion," the deputy chairman of the recently created Chinese-Ukrainian Association for promotion of international cooperation has said.

The priorities are the projects for construction of plant protection means and fertilizers on Ukraine's territory, which the country should almost fully purchase abroad now; modernization of irrigation systems; the use of new technologies for raising the yield and cattle and poultry breeding efficiency; development of logistics.

China is interested in boosting imports of high-quality agrarian products for the sake of rising own food security.

At the first stage, participating in the Fund's work are 16 large industrial companies, included into the Association and having great experience of work abroad. The founders expect that in the future, when projects will come and "successful history of cooperation" will be arranged, other corporations will participate from the inland part of China and Hong Kong.

Ukrinform