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Saturday, February 29, 2020

Ukrainian meat processor to receive EBRD loan of $13 million

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.