The European Bank for Reconstruction and Development (EBRD) will provide credits worth EUR 200 million to Ukrainian agriculture in 2016, EBRD Senior Adviser for External Affairs Anton Usov said in an interview with AgroPolit online publication.
The year [2015] was not bad: the EBRD issued credits worth EUR 175
million in agriculture. This is less than in the previous year [2014 –
EUR 250 million], but compared to other sectors this is a good result.
In 2016, the crediting level for us is EUR 200 million. In early January
we are waiting for the closure of the agreement with Ukrainian Agrarian
Investments.
He added that in general, agriculture in Ukraine is interesting and
successful for the EBRD, despite for a fall in the cost efficiency of
agribusiness.
“Almost everything that we planned in 2015 we’ve realized: we
continued working with powerful companies as Nibulon, Kernel and MHP.
The arrival of large players is out of the question, as Ukraine still
has large macroeconomic [GDP fell by almost 12 percent, local companies faced a
plunge in buying power of the population) and political risks,” Usov
said.
As reported, the EBRD is providing a $20 million revolving working capital facility to Ukrainian Agrarian Investments (UAI).
The EBRD is the largest international financial investor in Ukraine.
As of Jan. 1, 2016, the Bank had a total cumulative commitment of
approximately EUR 12 billion in 357 projects throughout the country.
