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EBRD PROVIDES US$10 MILLION WORKING CAPITAL
LOAN TO UKRAINE’S ASTARTA
EBRD, Kyiv, Ukraine
Oct 06, Tue, 2020
Astarta is a member of USUBC
One of the largest vertically integrated agro industrial holdings in Ukraine
Astarta is a member of the U.S.-Ukraine Business Council (USUBC)
European Bank for Reconstruction and Development (EBRD)
Kyiv, Ukraine, Monday, October 5, 2020
KYIV--The European Bank for Reconstruction and Development (EBRD) is supporting operations of its long-standing client Astarta, one of the largest vertically integrated agro industrial holdings in Ukraine, during the coronavirus pandemic by extending the working capital facility approved in 2018.
A 2-year US$10 million loan to the Ukrainian operator of over 230,000 hectares of arable farm land, sugar plants, a soybean processing factory and dairy farms will help it implement plans related to the introduction of the precision farming.
Astarta is applying these modern agricultural technologies to improve crop yields and reduce the use of mineral fertilizers by 15 per cent. The company is offering a specialized training program to high school graduates and students willing to work in the agribusiness sector in Ukraine as part of this project.
The EBRD launched two Solidarity Packages in response to the Covid-19 crisis and now expects to dedicate its total business investment of up to €21 billion in 2020-21 to overcoming the economic impact of the crisis.
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €15 billion through 466 projects in the country.
USUBC NOTE: Astarta is a long-time member of U.S.-Ukraine Business Council (USUBC) www.USUBC.org.