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EBRD provides working capital loan to Ukraine’s Astarta
05.10.2020 13:30 "Agro Perspectiva" (Kyiv) —
• EBRD provides US$10 mln to Ukraine’s agro holding Astarta • Application of modern agricultural technologies • Specialised training for sector specialists 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 fertilisers by 15 per cent. The company is offering a specialised training programme 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 ˆ21 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 ˆ15 billion through 466 projects in the country.
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