As part of its ongoing assistance program for existing Ukrainian corporate clients, the European Bank for Reconstruction and Development (EBRD) will provide a $13 million loan to Globino, Ukraine's leading meat processing company.
Globino, based in the Poltava region, will used the loan to address its liquidity and working capital needs and to overcome the difficulties and constraints fused by the financial crisis and the reduced availability of external funding.
"We know how important the agribusiness sector is for the Ukrainian economy," EBRD Director for Ukraine Sevki Acuner said. "We welcome this signing because it allows us to support the growth of a strong local company. This new loan demonstrates our continuous commitment to Globino as a long-term partner."
Agribusiness is seen as a key growth driver for the Ukrainian economy, with more than $160 million provided by the EBRD to various agribusiness clients in Ukraine since the start of 2014.
A $25 million loan was signed by the EBRD in 2011 for the Globino Group to modernize its Globinsky Meat Plant and Globinsky Pig Complex.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme