| Project Detail |
Project 40: Kernal Group loan Location: Ukraine Project number: 46620 Business sector: Agribusiness Notice type: Private English-language PSD published: 03 Dec 2024 Project Description This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed In July 2014, the Board of Directors approved an unfunded risk participation in a revolving credit facility provided by a syndicate of banks to Inerco Trade S.A. (the Company), part of Kernel Group (“Kernel”), a leading vertically-integrated agribusiness group engaged in oilseed crushing, grain trading, crop farming, transhipment and silo services operations in Ukraine. The Bank’s participation comprised of USD 50 million. Project Objectives The EBRD’s participation in the transaction will allow the Company’s corporate group to secure sufficient working capital financing for its trading activity at the time of a difficult economic and political environment in Ukraine. |
