EBRD may credit Agrotrade with up to $28 million
2012-01-31 11:05:41
The European Bank for Reconstruction and Development (EBRD) is considering providing a loan to the Ukrainian agroindustrial group Agrotrade, worth up to $28 million to finance working capital and draw investment in grain handling and storage infrastructure, the press office of the bank reported.
The bank will pass a final decision on granting the loan February 28, 2012.
The EBRD plans to lend up to $20 million for working capital and $8 million as a long-term loan.
The total project cost is approximately $34 million.
The agro-industrial group Agrotrade incorporates 12 elevators and grain companies with a total capacity of storing 550 thousand tons in five regions of Ukraine. The group manages 40 thousand hectares of fertile agricultural land in Chernihiv, Sumy and Kharkiv regions.
In late 2010, BNP Paribas Group extended to Agrotrade a credit line of $65 million for working capital for the purchase of grain.