New energy efficient grain storage facilities financed by the EBRD will contribute to Ukraine’s strategy to secure its leading international position in grain exports. Growing rates of grain export from the country over the last decade increasingly require modern and efficient grain storage facilities.
A €10 million loan by the Bank provided to Ukraine’s Grain Alliance Group, which cultivates over 50,000 hectares of land and is owned by Claesson & Anderzen of Sweden, will finance the expansion of the group’s storage facilities in northern Ukraine and the purchase of agricultural machinery. The project is co-financed by a €1.5 million loan from the Taiwan International Cooperation and Development Fund (TaiwanICDF). Legal due diligence for the project is partially funded by the Japan-EBRD Technical Cooperation Fund.
The loan will be supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme with a grant of up to US$ 374,000, covering the installation of two biomass-fired heat generators with a total capacity of 24MW. They will produce 43,200 MWh of renewable energy per year and help reduce annual CO2 emissions by 7,200 tonnes. FINTECC is designed to transfer technology in the area of climate change mitigation and is supported by the EU Neighbourhood Investment Facility.
The EBRD is the largest international financial investor in Ukraine. Since the start of its operations in the country in 1993, the Bank has made a cumulative commitment of more than €14.5 billion through 450 projects in Ukraine.
