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EBRD supports Ukraine’s Nibulon Group
EBRD, Kyiv, Ukraine,
July 24, Fri, 2020
- US$27 million loan to Ukraine’s leading grain trader Nibulon under EBRD Solidarity Package
- Financing addresses working capital needs
- Technical cooperation provided by the government of Japan
The European Bank for Reconstruction and Development (EBRD) is providing Nibulon Group, one of Ukraine’s leading agribusiness concerns, with a loan of up to US$27 million to ensure sustainable trading volumes despite the impact of the coronavirus pandemic.
The financing addresses working capital needs for agricultural commodities procurement, processing, storage, transportation and subsequent sale for export.
Nibulon Group, one of Ukraine’s largest grain exporters, is a longstanding EBRD client. In 2018, the EBRD provided a US$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 ensuring 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 coronavirus crisis.
The project is supported by grant funding provided by Japan-EBRD Technical Cooperation Fund. Grant funds will partially cover external legal costs.
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €14.7 billion across 472 projects since the start of its operations in the country in 1993.