Information for fruit and vegetables business in CIS
Ukraine: EBRD to provide a $26 mln loan to food holding Chumak
Board of Directors of European Bank for Reconstruction and Development on Tuesday made a decision to provide a $26 million loan to a major Ukrainian food company "Chumak". A spokesman for the bank said on Friday that the funds were intended for expansion of company's operations.
However, the contract with the company has not been signed yet, the spokesman said. "We are ready to provide finance, but the contract has not so far been signed", he said, adding that the signing of the agreement with Chumak was to be finalised by the end of this year.
Chumak is one of Ukraine's major agri-processor and producers of foodstuffs. Its product range includes bottled sunflower oil, mayonnaises, ketchups, tomato pastes and marinaded vegetables.