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On May 20, 2020, the agreement entered into force after Ukraine's domestic legal procedures.

"The implementation of the Program for Accelerating Private Investment in Agriculture will allow Ukraine to ease certain restrictions on the way to increasing the participation of the private sector, in particular, small and medium enterprises (SMEs), in the agricultural market and the Ukrainian commodity market," as reported on the Ukrainian Finance Ministry's website.

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It is noted the measures planned to achieve the goal of the Program include the creation of the State GeoCadastre [Agrarian Register] and opening access to it to the general public, inventory checking of state-owned lands and entry of information about them in the State GeoCadastre, development of a methodology for developing land use plans for united territorial communities, and satellite mapping of the territory of Ukraine.

The Program also provides for the creation of an automated notification system for changes in the State GeoCadastre, raising awareness of landowners and land users about land rights and ways to protect them, strengthening the system of state control on the state border of Ukraine taking into account the EU requirements and the best world practices, and the development and launch of an interactive information system on food safety and export market requirements.

As UNIAN reported earlier, the Cabinet of Ministers of Ukraine approved the borrowing of US$350 million from the IBRD for Ukraine's economic recovery.