August 2 2004, 17:52

EBRD will allocate loan to WJ company for purchase and processing of sunflower seeds

AK&M agency has informed that the Board of the European Bank for Reconstruction and Development approved allocation of a $40 million credit to the agricultural group WJ.

The project is aimed at funding the company's purchases, transportation, storage and processing of sunflower seeds in Moldova and Russia with subsequent exports of the resulting sunoil. The total worth of the project is $80 million. According to AK&M, the EBRD is also planning to provide the company with the other $40 million in the form of syndicated loan.

AK&M informs that WJ company produces sunflower oil under the trademarks Milora, Razdolye, Floris, Mister Cook and Aroma Soarelui.