EBRD to issue EUR120 mln to Agri Europe subsidiaries in Ukraine, Serbia

18:02, 10.03.2015 1 min read

The European Bank for Reconstruction and Development (EBRD) intends to issue EUR 120 million to the subsidiaries of Agri Europe in Ukraine and Serbia.

According to the bank's website, the financing package will include a syndicated loan of up to EUR 109 million for Agri Europe Serbia and up to EUR 11 million for Agri Europe Ukraine, provided directly by the EBRD. The project is to be considered by April 8.

According to the report, the funding is aimed at supporting the holding company's balance and diversifying its operations, in particular in meat processing and the development of cooperation with supplier farms, as well as gardening (apple orchards) in Serbia.

Agri Europe unites agricultural (MK Group), sugar (Sunoko) and meat processing (Carnex) units in Serbia, while in Ukraine the company is represented by AgroInvest (Agro Invest Ukraine LLC, a subsidiary of MK Group) with 30,000 ha of land in Kyiv, Vinnytsia, Cherkasy and Zhytomyr regions with elevators of about 174,000 tonnes.