IFC approves issue of $90 mln to Nibulon

16:46, 06.06.2017 1 min read

The International Finance Corporation (IFC) will provide Nibulon agricultural company (Mykolaiv), one of the largest Ukrainian producers and exporters of agricultural goods, with up to $90 million of borrowed funds for replenishment of working capital and to develop the company.

According to the IFC, its board of directors made the corresponding decision on May 30.

According to the information previously promulgated by Nibulon, the project implementation will allow increasing trade in grain by approximately 40% in five years, to 7 million tonnes in 2021 from 4.5 million tonnes in 2016.

Nibulon will continue to build new capacities to store crops to reduce crop losses in Ukraine. Every year the company buys grain from more than 4,700 farmers.

Nibulon founder and CEO Oleksiy Vadatursky owns 80% of the company, his son, MP Andriy Vadatursky holds 20%. Now Andriy Vadatursky does not participate in the activities of the company, transferring the rights for his shares to his father.