EBRD support for Ukraine’s largest producer of sunflower oil
April 19, 2021

EBRD support for Ukraine’s largest producer of sunflower oil

The European Bank for Reconstruction and Development (EBRD) is providing a US$ 57 million loan to Kernel Group, the largest producer and exporter of sunflower oil in Ukraine and a major supplier of agricultural products from the Black Sea region to world markets. This funding will help the company maintain the procurement, storage, transportation, and export of agricultural commodities.

The loan is part of a US$ 200 million syndication arranged by the French investment bank Natixis.

With this financing, the group will enter the new harvest season with sufficient working capital to buy crops and prepare them for export, making full use of its newly expanded infrastructure. The loan will also enable the company to continue and increase its prepayments to farmers, which is particularly important for fuelling growth of small agricultural firms in Ukraine.

As part of its cooperation with the EBRD, Kernel Group will start developing a climate change strategy, define decarbonisation targets, and improve climate-related disclosures and climate risk management.

The EBRD is the largest institutional investor in Ukraine, with €2 billion committed to the country’s economy during past two years alone.

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