KIEV, UKRAINE — The European Bank for Reconstruction and Development (EBRD) is investing $27 million in the Nibulon Group to help ensure sustainable trading volumes despite the impact of the coronavirus (COVID-19) pandemic.
The financing addresses working capital needs for agricultural commodities procurement, processing, storage, transportation and subsequent sale for export.
Nibulon Group, a Ukrainian grain export, is a longstanding EBRD client. In 2018, EBRD provided a $50 million loan to increase grain exports by improving logistics and developing the associated infrastructure.
The financing is part of the EBRD Solidarity Package, which focuses on safeguarding continuity of key businesses and services threatened by the economic impact of COVID-19. The EBRD expects to dedicate its total business investment of up to €21 billion in the period 2020-21 to combat the COVID-19 crisis.
The project is supported by grant funding provided by Japan-EBRD Technical Cooperation Fund. Grant funds will partially cover external legal costs.
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