July 2 2002, 10:54 Interfax-Ukraine

EBRD to grant Toepfer Group US $80mn credit for grain business development in Ukraine

European Bank for Reconstruction and Development (EBRD) will provide a renewable credit of $80mn to Alfred C. Toepfer International Ukraine, which is an affiliate company of Alfred C. Toepfer N.V. out of Rotterdam

According to EBRD Representative Office in Kyiv, this credit is targeted for development of grain and raw materials exports..

Part of the credit will be used for implementation of warehouse receipt system in Ukraine, which is a joint project of EBRD and Ukrainian Government.

According to Hans Jacobsen, Director of EBRD Agribusiness Department, the Bank hopes that other large transnational companies operating in Ukrainian agribusiness will follow the example and cooperate with EBRD..

According to EBRD, they have already signed 159 investment projects related to agribusiness for a total of EURO2.7bn, of which EURO310mn were granted for projects implementation in Ukraine.