IMC has obtained a loan in the amount of US $20 million from the EBRD

IMC has obtained a loan in the amount of US $20 million from the EBRD

IMC has attracted a US $20 million loan from the European Bank for Reconstruction and Development (EBRD) to finance working capital needs of the company’s farming operations in Ukraine

As part of the cooperation with the EBRD, IMC has become the first company in Ukraine to undergo the Resource Efficiency and Climate Change Adaptation Assessment commissioned by the EBRD. Based on the results of the assessment, IMC’s experts together with the experts engaged by the EBRD have developed an action plan for adaptation of agricultural practices of IMC to climate change, which will be implemented during the period of 2016-2017. Also several areas of investments have been suggested by the experts to reduce the use of energy, water and materials across the operations of IMC.

"For us, the beginning of cooperation with the powerful international financial institution as the EBRD is very important. It is not only one of the few opportunities today to get a loan in a difficult economic and political situation in Ukraine, but also the opportunity to join the global initiatives and projects from the EBRD, aimed at reducing the negative impact on the environment, increase of resource efficiency, reduction of production costs and the overall growth of the efficiency of agricultural business, based on best international practices", - said Alex Lissitsa, CEO of IMC.

About IMC

IMC (INDUSTRIAL MILK COMPANY S.A.) is one of the TOP-10 agricultural companies in Ukraine, and is listed on the Warsaw Stock Exchange. The company is primarily involved in crop farming, the storage of grain and oilseed crops, potato production and dairy farming. It operates 136,600 hectares of land located in the prime fertile farming regions of Ukraine (Poltava, Chernihiv, Sumy). The company was founded in 2007. In 2015, IMC reported net profit of USD 14.0 million and EBITDA of USD 66.5 million.

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