According to Interfax-Ukraine the board of directors of the European Bank for Reconstruction and Development (EBRD) has approved a project which includes the provision of USD 85M to Myronivsky Hliboproduct (MHP) to replenish its working capital.
EBRD Senior Adviser for External Affairs Anton Usov told Interfax-Ukraine that the decision was made on October 28. MHP will use these funds to replenish its working capital related to the cultivation of crops and feed production and purchase equipment for the soybeans plant.
MHP in 2014 saw poultry sales rise by 18% in comparison with 2013, to 525,460 tonnes. The net loss of MHP in 2014 totaled USD 412M against net profit at USD 162M in 2013, while its revenues over last year decreased by 8%, to USD 1.379 billion.