EBRD joins working capital facility for Ukraine’s Kernel

In:

Agriculture/food chain

Region:

Europe

The European Bank for Reconstruction and Development is providing a $57 million loan to Ukraine-based agribusiness Kernel Group to help maintain the procurement, storage, transportation and export of agricultural commodities. The loan is part of a $200 million syndication arranged by the French investment bank Natixis.

The financing will help Kernel - the largest producer and exporter of sunflower oil in Ukraine - enter the new harvest season with sufficient working capital to buy crops and prepare them for export.

The loan will also enable the company to continue and increase its prepayments to farmers, which is particularly important for fuelling growth of small agricultural firms in Ukraine.

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