EBRD increases UkrFarm Funding credit line to $40 million
2011-07-04 15:13:00
The European Bank for Reconstruction and Development increases its credit line for UkrFarm Funding Limited (Cyprus), uniting more than 70 Ukrainian agricultural enterprises and an affiliate of Renaissance Group, to $40 million for the expansion of the company's activity, the EBRD press service reported.
The credit line was opened in 2010 in the original amount of $20 million.
It is assumed that the loan will help UkrFarm Funding increase the efficiency and productivity of arable land, as well as provide the expansion of land bank by 50,000 hectares to 300,000 hectares before the end of 2013.
UkrFarm belongs to the holding company Ukrainian Agrarian Investments, the main shareholder of which is Renaissance Group.