KYIV. Dec 15 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) has provided a $20 million working facility to Ukrainian Agrarian Investments (UAI) to replenish working capital under the bank’s EUR 150 million Ukrainian Corporate Support Facility designed to support existing EBRD clients in the country.
The bank said that the board made the decision on December 9, 2015.
The loan would allow the existing client of the bank to have enough working capital for processing 195,000 hectares in the 2016/2017 seasons, the bank said, pointing at the liquidity crisis at Ukrainian companies.
UAI unites over 70 farms located in northern and western Ukraine and it has been cooperating with the EBRD since 2010. Last year the bank provided a $13 million working facility to the company.
The EBRD is the largest international financial investor in Ukraine. As of September 1, 2015, the bank had a total cumulative commitment of EUR 11 billion in 346 projects in the country.
