17:15 26.10.2017

EBRD issues $25 mln loan to Astarta for infrastructure development

EBRD issues $25 mln loan to Astarta for infrastructure development

The European Bank for Reconstruction and Development (EBRD) has issued a loan of $25 million to Astarta agro-industrial holding for seven years for the construction and purchase of sugar and grain storage facilities.

"A seven-year loan of up to $25 million is also aimed at achieving savings in the use of energy and resources ‎and a reduction in greenhouse gas (GHG) emissions. The funds will be used to construct, extend or acquire grain and sugar storage facilities in Poltava and Khmelnytsky regions of Ukraine," the bank said in a press release.

"The project is in line with the EBRD's Green Economy Transition approach, under which the bank is promoting investments in energy and resource efficiency as well as stimulating innovation," it says.

"The investment is expected to result in energy and resource savings as well as reducing GHG emissions. Once implemented, the project will achieve natural gas savings in excess of 750,000 cubic meters per year and reduce grain losses by up to 3,500 tonnes per year. The overall reduction in GHG emissions is expected to be around 1,600 tonnes of carbon dioxide equivalent per year," the document reads.

The project benefits from technical assistance funded by Japan, it says.

As reported, with reference to the EBRD information, the project envisages the construction and acquisition of six grain storage facilities with a total capacity of 480,000 tonnes and the construction of one sugar storage facility with a total capacity of 50,000 tonnes.

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