14:08 19.10.2015

AgroGeneration resumes credit line of $35 mln at Alfa-Bank

1 min read
AgroGeneration resumes credit line of $35 mln at Alfa-Bank

France's AgroGeneration with assets in Ukraine, which merged with Harmelia in late 2013, has resumed raising funds under a credit line of $35 million opened by Alfa-Bank (Kyiv).

The company said in a press release on Monday that on October 13, 2015, the company received $6.2 million for the 2015-2016 agricultural campaign.

The decision to raise the funds was made after progress in Ukraine's debt restructuring and the ceasefire in the Anti-Terrorist Operation zone.

AgroGeneration said that the International Monetary Fund (IMF) predicts that Ukraine's GDP will grow by 2% in 2016.

In April 2015, Alfa-Bank issued a first tranche of $6.4 million to AgroGeneration to finance the sowing campaign. The credit limit was set for a five-year period.

France's AgroGeneration was founded in 2007. It specializes in the production of grains and oilseeds. In Ukraine, it currently cultivates about 120,000 hectares of farmland.

AD
AD
AD
AD
AD