IFC to provide $12.5 mln loan to Nyva Pereyaslavschyny
The Board of the World Bank has approved the provision of a long-term loan of $12.5 million to Nyva Pereyaslavschyny, the largest group of pig companies in Ukraine.
According to a posting on the website of the International Finance Corporation (IFC), the decision was made on April 25, 2018.
The funds will be sent to finance the company's 2018-2019 capital expansion program. The total cost of the project is $35 million.
As reported, at the end of April 2015 the IFC issued $25 million loans to Nyva Pereyaslavschyny to support the plans of the group to expand operations and refinance medium-term debt.
The Nyva Pereyaslavschyny group of companies cultivates about 23,000 hectares of land. Its grain storage capacity is about 150,000 tonnes, the annual export of grains is 100,000 tonnes.
The group includes nine pig breeding complexes. The work to collect permits for the construction of the tenth farm has been started.
The group plans in 2018 to build a new specialized meat processing plant with a capacity of 240 animals per hour.