The European Bank for Reconstruction and Development (EBRD) could provide a senior secured long-term loan of up to $20 million to finance working capital of Astarta agricultural holding. According to a report on the bank’s website, the decision could be made on June 18.
The project will support the company in development and implementation of cooperation with local universities and schools, contributing to improved access to training and employment opportunities for young people.
In addition, the project is expected to contribute to significant efficiency and productivity gains through introduction of modern IT solutions and farming techniques as well as to support development of stronger backward linkages to local suppliers.
The total cost of the project is $242 million.
As reported, the EBRD in October 2017 provided a $25 million loan for seven years to build and buy sugar and grain storage facilities.
Astarta is a vertically integrated agro-industrial holding operating in Poltava, Vinnytsia, Khmelnytsky, Ternopil, Zhytomyr, Chernihiv, Cherkasy and Kharkiv regions.