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332 Banking

EBRD will issue $20 mln loan to Astarta, Ukrainian Sugar Producer

The European Bank for Reconstruction and Development (EBRD) will issue a long-term loan of up to $20 million to Astarta, a Ukrainian agro-industrial holding

The European Bank for Reconstruction and Development (EBRD) will issue a long-term loan of up to $20 million to Astarta, a Ukrainian agro-industrial holding, to finance working capital necessary for plant growing, sugar beets and soybeans processing.

The bank says its funding will also contribute to improving efficiency and productivity through the introduction of modern IT solutions and farming practices and support of stronger ties with local suppliers.

According to information on the EBRD’s website, the overall valuation of the project is estimated at $242 million.

As reported, the EBRD in October 2017 issued a $25 million loan to Astarta for seven years for the construction and purchase of sugar and grain storage facilities.

Astarta is a vertically integrated agro-industrial holding that operates in eight regions of Ukraine. The holding includes eight sugar factories, agricultural enterprises with a land bank of about 250,000 hectares and dairy farms.

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