At a round table last Friday, Mr. Klymenko, President of Ukraine’s Grain Association said that according to his sources EBRD is starting to experience problems in collecting payments from a number of Agro-Holdings because those companies cash flow has been negatively affected by grain export restrictions. Amongst the companies to whom EBRD lent last year were: MHP $50 million, Nibulon $50 million, Noble Resources $24 million, Ukrainian Agrarian Farms $20 million and Astarta 10 million Euro. As a result EBRD initiated active policy discussions with the government to get its support to drop the export ban. Mr. Klimenko believes that the holdings will be able to ride out this round of interference.

UkrAgroConsult