EBRD supports operations of Ukraine’s Grain Alliance
The farming and grain storage operations of Ukraine’s Grain Alliance Group, which is owned by Claesson & Anderzen of Sweden, will receive financial support thanks to a new agreement with the European Bank for Reconstruction and Development (EBRD).
A €7 million working capital loan will support Grain Alliance’s operations that have been affected by the coronavirus pandemic. It will allow the group, which cultivates over 50,000 thousand hectares of land in northern Ukraine, to withstand the impact of the pandemic and will enable Grain Alliance to implement an investment programme aimed at the expansion of its grain storage facilities and the introduction of energy efficiency measures.
Technical assistance for this project is provided by the government of Japan.
The EBRD launched two Solidarity Packages in response to the Covid-19 crisis and now expects to dedicate its total business investment of up to €21 billion in 2020-21 to overcoming the economic impact of the crisis.
The Bank is the largest international financial investor in Ukraine. To date, the EBRD has made a cumulative commitment of almost €15 billion through 466 projects in the country.