EBRD loan helps Noble Group take off in Ukraine

Published: 16 October 2009 y., Friday

Doleriai
The EBRD is providing a $50 million financing programme to Noble Resources Ukraine LLC, a wholly-owned subsidiary of Noble Group Limited – a leading global supply chain manager in agricultural and other commodities listed on the Singapore Stock Exchange.

EBRD financing will be provided in the form of an annual revolving working capital loan with a maximum commitment of up to $50 million that is renewable for three years. The facility will be used by Noble Resources Ukraine LLC for the origination, storage, and export-trade of agricultural commodities in Ukraine.

Other project objectives where EBRD cooperation is envisaged include construction as well as possible acquisition and upgrade of grain storage and primary processing facilities in Ukraine. Noble Resources Ukraine LLC will work with domestic silo operators on fostering improvements of their facilities and operations to bring them in line with the best international practice. At the same time Noble’s own silos, operated at the best international standards, will encourage competition in the sector.

Gilles Mettetal, EBRD Director for Agribusiness said, “The project is consistent with the Bank’s agribusiness strategy for Ukraine. The Bank is pleased to work with a committed sponsor willing to take a long-term view in the key agricultural sector in Ukraine”

The European Bank for Reconstruction and Development is the biggest financial investor in Ukraine. As of 1 September 2009, it had committed almost €4.5 billion through 185 projects.

Šaltinis: www.ebrd.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

FDI in Lithuania Grew by 5 % and Lithuania’s Investment Abroad Increased by 14 %

Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009. more »

Fish industry voices concern over foreign fish and falling prices

Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April. more »

Future of European agriculture - have your say

EU opens public debate on its agricultural policy, the prelude to a major reform in 2013. more »

Commission launches €35 million call for projects that turn environmental challenges into business opportunities

The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme. more »

Bank SNORAS group consolidates the activity of the Baltic investment companies

Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States. more »

European Central Bank and European Commission hold joint conference on "financial integration and stability: the legacy of the crisis"

The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main. more »

12 April 2010 - ECB signals a gradual recovery of the European financial integration process

Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets. more »

World Bank Group: Record US$100 Billion Response Lays Foundation for Recovery from Global Economic Crisis

World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn. more »

IMF Executive Board Concludes 2010 Article IV Consultation with Serbia

On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia. more »

United Kingdom Contributes US$7.5 Million to Support IMF Technical Assistance in Statistics in Africa

The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project. more »