EBRD loans USD 10 mln to Astarta for precision farming implementation

The European Bank for Reconstruction and Development (EBRD) provides a 2-year USD 10 mln loan to Astarta-Kyiv.

The credit facility will help the company implement plans related to the introduction of precision farming.

"Astarta is applying these modern agricultural technologies to improve crop yields and reduce the use of mineral fertilisers by 15%. The company is offering a specialised training programme to high school graduates and students willing to work in the agribusiness sector in Ukraine as part of this project," the bank says in a statement.

Previously reported that a company wholly owned by Chief Executive Officer of Astarta-Kyiv Viktor Ivanchyk, Albacon Ventures Limited, increased its shareholding in Astarta to 39.5%.