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Thursday, January 23, 2020

THE BLACK SEA TRADE AND DEVELOPMENT BANK: BSTDB Increases Support to Agribusiness in Ukraine

The Black Sea Trade and Development Bank issued the following announcement on Dec. 23.

The Black Sea Trade and Development Bank (BSTDB) has provided a USD 70 million loan to Epicentr Group, a Ukrainian market leader in agribusiness, manufacturing of construction materials, and Do-It-Yourself retail and distribution sectors.

The 7-year loan will support the Group’s agriculture business program for 2019-2021, in particular the construction of three new and modernization of four existing grain silos and the purchase of agricultural machinery.

The BSTDB’s financing will contribute to the development of the agricultural infrastructure in Ukraine, job creation and increase in export revenues thus strengthening the country’s balance of payments.

Hasan Demirhan, BSTDB Vice President Banking said: “We are happy to contribute to the strengthening of the agricultural sector and exports in Ukraine, which is a major source of employment, budget revenues and hard currency earnings in the country. This operation underlines the strategic priority we attach to supporting Ukraine’s agricultural production and regional trade that is benefiting from the country’s growing export potential."

Original source can be found here.

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The Black Sea Trade and Development Bank

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