Agricultural ASTARTA raises USD 30mln from IFC

Agricultural ASTARTA raises USD 30mln from IFC

International Finance Corporation (IFC) decided to give the long term facility to the domestic agricultural major

International Finance Corporation (IFC) granted USD 30mln loan for agricultural ASTARTA. The raised funds will be channeled into introducing modern available technologies along with the highest operational standards aiming at better resource management at the company.

At this, a part of the long term facility can be used up for the development of animal production and trade in grains and oilseeds.

The lender stresses out that after the improvements under the facility the agricultural holding will reduce emissions in the production; reduce water usage and natural gas consumption. Also, the company will spend less money for the processing and storage of sugar beets.

It will be fourth lending program in a row between ASTARTA and IFC starting 2012.

To note, ASTARTA reduced its net profit by 25% y/y to EUR 62mln in 2016. At the same time, ASTARTA shortened its debts by 10% to EUR 130mln.

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