KYIV. Sept 24 (Interfax-Ukraine) – The Board of the International Finance Corporation (IFC) has approved a project on the provision of debt financing of up to $35 million to Ukrainian agricultural holding Astarta.
IFC Spokesperson Olena Harmash told Interfax-Ukraine that the credit agreement is being prepared for signing.
As reported, the project will help Astarta to ensure financing of its working capital to accumulate soybeans in the harvesting period when farmers have the largest soybean stocks and prices are low as a rule.
Astarta would produce soybean meal, butter and husk, creating products with higher added value. The rest of the soybean purchases will be financed using company funds.
Astarta is a vertically integrated agro-industrial holding comprising five regional divisions in Poltava, Vinnytsia, Khmelnytsky, and Kharkiv regions. It is composed of nine sugar factories, agricultural farms with a land bank of about 245,000 hectares, and dairy farms.
