KYIV. Aug 5 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) is considering issuing EUR55 million to the subsidiaries of Groupe Soufflet in Ukraine to replenish its working capital related to procurement, production and sale of agricultural products.
According to the bank’s website, the decision will be made on September 2.
Providing seasonal working capital to the subsidiaries of Soufflet Groupe will give the required support to farmers to enable them to invest in seeds, fertilizers, plant protection agents and harvesting.
The debt financing of the working capital of Soufflet will allow the bank to support investment in primary agriculture by supporting small and medium-sized farms.
French group Soufflet owns grain elevators and is engaged in the grains trade. The company owns 42 plants in Europe, Asia and America. Soufflet is one of the world’s major suppliers of malt. The group operates in 17 countries.
In Ukraine, Soufflet Group has invested in malt production, malted barley and wheat storage. Soufflet Group intends to invest almost EUR250 million in the construction of a terminal at Illichivsk seaport.
