EBRD issues $27 mln loan to Nibulon due to pandemic
The European Bank for Reconstruction and Development (EBRD) has provided Nibulon, one of the largest grain traders in Ukraine, with a loan of up to $27 million to maintain the volume of trade operations amid the coronavirus pandemic, EBRD Senior Advisor for External Affairs Anton Usov has said.
"The funding will meet the working capital needs for purchasing, processing, storing, transporting and exporting agricultural products," he said on Facebook.
Nibulon was founded in 1991. It is one of the largest operators in the grain market of Ukraine. It has 27 transshipment terminals and complexes for accepting, storage and shipment of grains and oilseeds (388 silo-type granaries), a fleet of up to 72 units, and Mykolaiv Shipyard.
As reported, the EBRD launched a coronavirus crisis response and post-crisis recovery program earlier this year. It is expected that all the bank's investments in the amount of up to EUR 21 billion will be used for this during 2020-2021.