Toepfer gets EBRD loan to develop Ukraine grain market

by Emily Wilson
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LONDON, U.K. — The European Bank for Reconstruction and Development (EBRD) is providing a US$80 million revolving credit facility to Alfred C. Toepfer International, a subsidiary of the Hamburg-based agricultural commodities trading company Alfred C. Toepfer International Group. Of the total, US$32 million is being syndicated to commercial banks Hamburgische Landesbank, Rabobank, Raiffeisen Zentralbank Österreich AG and Vereins- und Westbank.

The financing will help Toepfer Ukraine to expand its growing grain business in Ukraine and to develop Ukrainian exports of agricultural commodities. The company will also implement a seasonal supply-chain financing scheme with one of Ukraine’s leading food processors, Chumak.

Moreover, the project is expected to support the EBRD’s long-term institutional dialogue with the Ukrainian government to introduce a system of grain warehouse receipts, which will increase the availability of post-harvest financing to Ukrainian farmers and food processors.

Hans Christian Jacobsen, the EBRD’s Director for Agribusiness, said he hoped Toepfer’s commitment would attract other prominent international agribusiness companies to Ukraine.