European Bank to back loan for Ukrainian edible oils plant

by Teresa Acklin
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   LONDON — The European Bank for Reconstruction and Development recently announced its participation in a U.S.$43.5-million loan program for a Ukrainian edible oils plant.

   The development bank said it would loan U.S.$15 million from its own account for the Dnipropetrovsk Oil Extraction Plant, a private company which is majority owned by France's Eridania-Beghin Say. The loan also comprises a U.S.$20-million syndicated tranche and a further U.S.$8.5-million long-term loan from the E.B.R.D.

   The loan will help finance the plant's purchase of sunflower seeds for the production of refined edible oil for Russia and the Ukraine. The plant will process 260,000 tonnes of sunflower seeds a year, officials said.