EBRD to invest in Ukrainian agricultural business
2013-11-19 16:10:33
The European Bank for Reconstruction and Development (EBRD) purchased stocks in Louis Dreyfus Commodities Silos - the company, whose representation is in Ukraine, to the amount of USD 30.5 million, investing by this in national grain production.
The EBRD press release reads.
“The EBRD will support development of grain production in Russia and Ukraine.
The company Louis Dreyfus Commodities made investments to the amount of USD 30.5 million in expansion and improvement of grain processing and logistics related to this,” a statement says.
To remind, the EBRD extended a credit line to Louis Dreyfus Commodities to replenish circulating capital to the amount of USD 75 million to two daughter companies in Russia and Ukraine - LLC Louis Dreyfus East and LLC Louis Dreyfus Commodities Ukraine Ltd.
Those financing programs are aimed at expansion of export activities, modernization and increase of capacities of the available grain elevators of the company in Russia and Ukraine, as well as for the purchase and construction of new elevators in Ukraine. The EBRD will also finance modernization and expansion of logistic operations in Russia and Ukraine. Louis Dreyfus Commodities possesses 18 elevators in these countries, which provide for trade operations of the company with grain and oil-bearing crops.
The EBRD is the largest financial investor of Ukraine. As of September 1, 2013, the bank allocated over USD 11.6 billion for realization of 327 projects in Ukraine.