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EBRD Loan to Ukraine Meat Group

01 September 2011

UKRAINE - The European Bank for Reconstruction and Development is to lend the Globino meat group in Ukraine $25 million as part of a refurbishment programme.

The loan is part of the ERBD's programme to bolster Ukraine’s strong position as a major producer, processor and exporter of agricultural commodities.

The cash will finance the modernisation of Globinsky Meat Plant and Globinsky Pig Complex as well as the construction of a biogas facility and a restructuring of Globino’s balance sheet.

In the context of this project and other similar investments in the countries where the EBRD is active, the EBRD and the United Nations Food and Agriculture Organization (FAO) are commissioning a study of the meat industry in Ukraine and Russia.

The study will analyse the current situation in the sector in terms of competition, production volumes and consumption as well as links to other sub-sectors like farming, processing and packaging.

It will assess the sector’s potential and the demand for the Bank’s financing in the future.

Gilles Mettetal, the EBRD’s Director for Agribusiness, said: “This is the first ever project in the meat processing sector for the Bank in Ukraine. We recognise the importance of this market segment for the country and are happy to support strong local companies like Globino Group. This will help boost Ukraine’s potential as a supplier to the local market and also as an exporter.”

In the agribusiness sector alone, the EBRD has directly committed more than €6 billion in over 400 projects across central and eastern Europe and the Commonwealth of Independent States since 1991.

The European Bank for Reconstruction and Development is the largest financial investor in Ukraine. As of 30 June 2011, the Bank had committed over €6.5 billion ($9.3 billion) through 276 projects.

TheMeatSite News Desk

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