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Kiev, Ukraine, January 16, 2014
—IFC, a member of the World Bank Group, is providing $65 million to Mriya Agro Holding, one of Ukraine’s leading agricultural producers, to support its expansion, improve agricultural land productivity, and increase sustainable production of food crops, contributing to global food security.
IFC’s investment includes a multi-year working capital facility and a loan to improve waste management practices. It will also support Mriya’s investment program, aimed at expanding the scope of its agricultural operations to about 400,000 hectares in three years. The expansion of farming operations will help create jobs in Ukraine’s impoverished western regions where the bulk of Mriya’s work is concentrated.
“Our long-term partnership with IFC has helped us secure steady growth over the past few years, despite challenging economic conditions in Ukraine,” said Mykola Guta, CEO of Mriya. “The new IFC loan will enable us to grow further and continue to improve the efficiency of our operations.”
Over the last seven years, Mriya has expanded its cultivated land from 16,000 hectares to about 300,000, producing over one million tons of grains in 2012.
“Our financing will support one of the most dynamic and productive agricultural companies in Ukraine. Supporting increased production of food through sustainable use of land and other resources is a priority for us in Ukraine. It will help Ukraine maximize its agribusiness potential and play a key role in global food security,” said Rufat Alimardanov, IFC’s regional head for Ukraine and Belarus.
In agribusiness, IFC supports the entire chain, from farm production to collection, processing, and distribution. It has invested over $800 million in various projects so far in Ukraine’s agricultural sector. IFC also offers an extensive advisory program, including projects focusing on simplifying business regulations in the sector, developing the agricultural insurance market and expanding access to finance for farmers, improving food safety and resource efficiency standards, and developing supply chains.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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