15:22 06.10.2015

IFC signs agreement on provision of $35 mln financing with Astarta

IFC signs agreement on provision of $35 mln financing with Astarta

The International Finance Corporation (IFC) has provided $35 million to Ukrainian agro-industrial holding Astarta.

IFC Communication Officer Olena Harmash told Interfax-Ukraine that the IFC financial package consist of a $15 million loan from the IFC and $20 million of debt financing raised from other investors.

The project will help Astarta to ensure the financing of its soybean processing campaign, the diversification of its business, and financing of its working capital during the duration of restricted access to financing on the Ukrainian market.

Astarta is a vertically integrated agro-industrial holding comprising five regional divisions in Poltava, Vinnytsia, Khmelnytsky, and Kharkiv regions. It is composed of nine sugar factories, agricultural farms with a land bank of about 245,000 hectares, and dairy farms.

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