German Development Finance Institution approved USD 20 mln financing to Astarta-Kyiv

The German Development Finance Institution (Deutsche Investitions- und Entwicklungsgesellschaft mbH, DEG) approved USD 20 mln financing to the Astarta-Kyiv agro-industrial holding.

"The Project will help the Company to secure long-term working capital financing and capital expenditure program. The project fits into both DEG's and Astarta's strategy of promoting sustainable businesses in Ukraine that contribute to local income and job generation," the WSE message reads.

No further details of the Project have been reported.

Previously reported that in the week of November 11–15 Astarta-Kyiv share price demonstrated the maximum decrease in the company's history.

Note: DEG, a member of the German KfW banking group, is one of the major European development finance institutions for supporting the development of private enterprises in emerging markets and markets in transition.