The European Bank for Reconstruction and Development (EBRD) has provided Olam International Ltd. (Singapore) with a $200 million loan to finance the company’s working capital needs in Ukraine, Turkey, Egypt, Georgia and Poland.
“The EBRD loan will finance purchases of agricultural commodities such as hazelnuts, dry dairy products, grain and onions in selected countries of operation. Local subsidiaries of the company will take on the processing, storage and distribution of these goods,” the bank said on its website.
“The European Union and the TaiwanBusiness-EBRD Technical Cooperation Fund will provide donor support for the development of new methodologies and processes for climate-related risk management and stress testing in Egypt and Turkey,” it says.
Olam International is a major food and agricultural products manufacturer headquartered in Singapore.
Olam International Ltd. 53.4% is owned by Temasek Holdings, 17.4% by Mitsubishi Corporation, 7% by Kewalram Chanrai Group and 6.3% by the Olam management.
Olam Ukraine LLC was founded in 2005 and is currently the leading supplier of cocoa beans and cocoa products to large local confectioners, as well as a major exporter of grain and milk powder products.
