Toepfer gets EBRD loan to develop Ukraine grain market
August 01, 2002
by Emily Wilson
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.