European Bank for Reconstruction and Development (EBRD) provides a revolving credit facility for $ 20 million for working capital of the “Ukrainian Agrarian Investments” company, that has more than 70 farms in northern and western Ukraine. This loan replaces the previous funding of $ 13 million, which was granted to “Ukrainian Agrarian Investments” in 2014. The funds will be used to meet the needs of the leading Ukrainian agricultural holding in the pre- and post-harvest financing.
Providing “Ukrainian Agrarian Investments” with new financing The Bank once again demonstrates a willingness to support its existing high-power customers in one of the most important sectors of the Ukrainian economy. EBRD plans to provide additional assistance to agricultural companies for their liquidity needs and working capital, as well as to restore market confidence and the desire of its members to implement new projects in the country.
“Ukrainian Agrarian Investments” is successfully cooperating with the EBRD since 2010. The loan is fully ensured the needs of seasonal working capital requirements for the treatment of 195 thousand hectares of land in a significant reduction in the availability of financing in Ukraine.
EBRD Director in Ukraine Sevki Acuner said: “We know how important is the agribusiness sector for the Ukrainian economy. We welcome the signing of this project, as it will allow us to support the development of strong local companies. The new loan proves our readiness to continue cooperation with the “UAI” as a long-term partner. “
“This transaction is a part of the bank’s anti-crisis program, and an excellent example of the long-term support that the EBRD is providing reliable Ukrainian companies – said Wojtek Bonyaschuk, Project Manager in the agribusiness sector in Ukraine. – Implementation of this project will contribute to the sustainable management of primary agriculture for the benefit of the Ukrainian economy and the country as a whole”.
Ukrainian Agribusiness is one of the key sectors for the Bank, which only in 2015 has committed over € 175 million to finance it. The EBRD is the largest financial investor in Ukraine. As of January 1, 2016 the Bank had committed to provide about € 12 billion under the 357 projects in the country.
Source: delo. ua
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