EBRD Sanctions $23 Mln Loan To Ukraine Commodities Operator Agrotrade

The European Bank for Reconstruction and Development has recently approved a USD 23 mln loan to leading Ukranian agribusiness commodities operator Agrotrade. Up to USD 15 mln has been sanctioned towards working capital, while the remaining will be made available as a senior loan and will serve to increase the company’s grain-handling capacities as well as boost their energy efficiency. The funds from the loan will also be used to install five new gas-operated drying units at five separate silo locations and upgrade its seed-processing capacity to approximately 10,000 tonnes per annum. In terms of energy savings, the loan will allow Agrotrade to achieve a cost of production savings of up to USD 1 mln and effectively save nearly 1.9 cu.m. of natural gas annually. The funds are expected to make Agrotrade more competitive locally and internationally and will adhere to the highest standards of energy efficiency in the industry. The company operates with 2,000 employees and controls eastern Ukrainian farms covering 50,000 hectares.