$50 m loan expands agro-production

The European Bank for Reconstruction and Development (EBRD) has signed an agreement with one of the biggest Ukrainian agroholding companies, Mironovskiy Hleboproduct, (MHP is producer of the well-known brand Nasha Ryaba) to provide a loan of US$50 m. The funds will be used for two different purposes. US$35 m is planned to be used for sunflower seed purchases and other raw products used for the downstream processing, as well as equipment to facilitate poultry meat production. The remaining US$15 m will be spent on improving energy efficiency including modernisation of existing storage facilities and the construction of new storage buildings.

“By supporting MHP, the bank is maintaining its focus on financing strong local companies and brands. The project also underscores the EBRD’s commitment to supporting energy efficiency initiatives across all the projects that it finances”, said the EBRD Director for Agribusiness Gilles Mettetal. The Ukrainian company, which was founded by Yuriy Kosyuk in 1998, will now have the capacity to produce 27.5 thousand tonnes of meat per month.