EBRD may lend $20 mln to IMC for replenishment of working capital

10:49, 03.03.2016 1 min read

Ukrainian agro holding Industrial Milk Company (IMC) may borrow a $20 million loan from the European Bank for Reconstruction and Development (EBRD) for the replenishment of working capital.

The EBRD Board is to consider this senior secured loan on April 20, according to a Bank announcement on its website.

The total cost of the financing of the project is $80 million.

As was reported, January through September 2015, IMC posted net profit worth $20.14 million against $14.26 million in net loss for the same period of 2014. Its revenue grew by 2.3%, to $100.23 million.

IMC is a publicly traded integrated agricultural group engaged in grain and oilseeds farming, storage, and processing, potato production, and dairy farming. It operates in Chernihiv, Sumy, and Poltava regions in Ukraine.