State-controlled Ukreximbank (Kyiv) with the assistance of the World Bank has provided a $22 million loan to Protein-Invest vegetable oil producer.
According to a report on the bank’s website, $14 million was used to refinancing an investment loan, and the company will receive another $8 million as part of a sub-project for the purchase of soybean seeds for further processing.
“Protein-Invest plant is increasing its production capacity, taking into account the global tendencies of increasing the consumption of oilseeds. To meet the needs of the enterprise in a sufficient volume of working capital for the purchase of raw materials, the bank made the most of the program of the International Bank for Reconstruction and Development. The sub-project worth $ 8 million was approved for the project of access to long-term financing, a mandatory criterion for the participation of enterprises in which is an export-oriented activity or the attraction of local supply chains to this direction,” board member of Ukreximbank Oleksandr Ihnatenko said.
Protein-Invest enterprise has a soybean oil extraction plant with a capacity of 700 tonnes per day. It supplies vegetable oil and high-protein meal to the market of Ukraine and other countries, which are further used in the food industry and for the manufacture of animal feed. Production was launched in the village of Dunayivtsi, Khmelnytsky region, in 2019.
According to the unified state register of legal entities and individual entrepreneurs, t