EBRD channels US$ 40 million to support Ukrainian grain farmers
The European Bank for Reconstruction and Development (EBRD) is once again demonstrating its commitment to Ukraine’s agribusiness sector, which received over €160 million from the Bank in 2013 alone.
The EBRD is providing a loan of up to US$ 40 million to over 30 farms and elevators across Ukraine owned by NCH New Europe Property Fund L.P. (NEPF). The proceeds will be used to finance the pre and post-harvest working capital needs of the farms as well as to support their grain export operations over the next three seasons. The farms are expected to achieve a significant reduction of CO2 emissions and greater energy efficiency.
By providing this financing, the EBRD is supporting farmers as well as agricultural commodity companies, which want to improve their physical grain handling infrastructure in Ukraine and to boost their export capacity.
The project continues a successful cooperation between the EBRD and NEPF, which began in 2009.
The EBRD is the largest financial investor in Ukraine. As of 1 April 2014 the Bank had committed €8.9 billion (US$ 12.2 billion) through 326 projects in the country.
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