One of Ukraine’s largest grain market operators, Nibulon JV LLC (Mykolaiv), has received EUR12.8 million from the Export Investment Fund of Denmark (EIFO) to purchase 74 units of modern agricultural machinery, the grain trader’s press service reported on Facebook.
“We are grateful to our Danish partners who support Ukrainian business, which is now working in spite of the war, not because of it. We really need more and more such positive signals as convincing role models. This is the only way we will be able to rebuild Ukraine as soon as possible,” said Nibulon’s CFO Iryna Levkovska, CFO of Nibulon.
Peder Lundqvist, CEO of EIFO, expressed confidence that the financing will help the company increase grain yields by modernizing agricultural machinery and strengthen the company’s long-term financial position.
“At EIFO, we are proud to be able to make a small contribution to the enormous recovery work that awaits Ukraine and is now one of the most important things for its citizens. We look forward to future cooperation with Nibulon and other Ukrainian and Danish companies operating in Ukraine,” he said during the signing of the loan agreement in the Ministry of Finance’s bomb shelter during an air raid alert.
According to Nibulon, the financing was allocated as part of a social program of the Danish investment fund created to help Ukraine. Its launch was announced in May 2023 during the Ukrainian Investment Forum in Copenhagen. The program will finance projects involving the best Danish technologies and innovative solutions and will be available to both the public and private sectors.
Nibulon JV LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
