EBRD supports Ukraine’s food security through $100 million financing with British support
On 12 September, the European Bank for Reconstruction and Development (EBRD) announced that it had arranged a financing package of up to $100 million for leading Ukrainian agribusiness producer MHP. The EBRD will lend $80 million to MHP, while British International Investment (BII), the United Kingdom’s development finance institution and impact investor, will provide the remaining $20 million.
This loan will help to secure uninterrupted sunflower-oil production and exports to nearly 20 countries, a vital component of Ukraine’s and global food security. Ukraine is the world’s largest exporter of sunflower oil. MHP’s oil production accounts for 6-8 per cent of the country’s total output.
Food security is one of the EBRD’s five investment priorities in Ukraine, along with energy security, vital infrastructure, trade and the private sector. In addition to supporting the resilience of food supply chains in Ukraine, the EBRD is also committed to developing human capital in Ukraine. As part of the financing, MHP will establish an ‘Autodrome’ training academy, designed to train up to 1,800 drivers per year, including women and war veterans, in line with European Union’s standards.
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