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The EIB approved a loan for Astarta-Kiev
27 September 2017, 11:19
The European Investment Bank approved a loan for Astarta-Kiev agro-industrial holding to support the energy efficiency and modernization program.
This is reported on the EIB official website.
The promotor is carrying out a number of investments to enlarge grain and sugar storage capacity. The EIB loan is also expected to finance the development of an information technology (IT) solution to improve a series of agricultural processes as part of the InnovFin scheme.
EIB funds are expected to enable the company to improve trade and export logistics by upgrading existing and constructing new grain and sugar silos. As part of the InnovFin programme, the EIB also aims to help the company make use of Ukraine's IT capabilities in order to develop innovative solutions that optimise processes along the agricultural value chain.
The improvement of storage infrastructure will enable Astarta to mitigate the impact of climate change on yield variation.
Proposed EIB finance (approximate amount) is not disclosed.
Note: that the European Bank for Reconstruction and Development (EBRD) will consider the issue of a loan of $25 million Astarta.
