The European Bank for Reconstruction and Development (EBRD) announced on Tuesday that it will provide a loan of up to $40 million to more than 30 farms and elevators throughout Ukraine.
The EBRD will provide the loan to farms owned by NCH New Europe Property Fund L.P. (NEPF). The EBRD said it is committed to Ukraine's agribusiness sector, which received more than $220 million from the bank in 2013 alone.
The proceeds of the loan will be used to finance the pre- and post-harvest working capital needs of the farms, as well as to support the farms' grain export operations over the next three seasons. The EBRD expects the farms to achieve a significant reduction of carbon dioxide emissions and an increase in energy efficiency.
The project continues a collaboration between the EBRD and NEPF, which started in 2009.
The EBRD is the largest financial investor in Ukraine. The bank committed $12.2 billion through 326 Ukrainian projects, as of April 1.
- FIRST UKRAINIAN BANK - UKRAINE: FUIB doubled sales of OSAGO insurance policies
- CENTRAL BANK OF AZERBIJAN: On holding auctions on attracting funds by the Central Bank
- UNICREDIT - AZERBAIJAN: UniCredit launches first ETFs combining factor strategy with ESG criteria on European equities
- THE BLACK SEA TRADE AND DEVELOPMENT BANK: AIIB, EBRD and BSTDB co-finance expansion of Turkey’s largest geothermal power plant
- GOVERNMENT OF BELARUS: Lukashenko: Belarus wants to deepen economic ties with Latvia
- GOVERNMENT OF ARMENIA: Open Government Partnership Initiative Working Group Holds Meeting
- EUROPEAN INVESTMENT BANK: France: Derichebourg receives EIB financing of 130 million euros under the Juncker Plan
- INTERNATIONAL MONETARY FUND: IMF Executive Board Completes the Second Review under the Extended Credit Facility Arrangement and Approves US$25 Million Disbursement to Burkina Faso
- ARMECONOMBANK - ARMENIA: Salary Card with 70% Discount
- ASIAN DEVELOPMENT BANK: ADB Sells 60 Million Lari Dual-Tranche Domestic Bonds in Georgia