Ukrainian poultry group MHP has secured loans worth US$50m from the European Bank for Reconstruction and Development.

London-listed MHP said today (15 July) that $35m of the money is being provided for working capital.

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The other $15m is being used for “energy efficiency improvements”, including the installation of a biomass boiler and the building of cold storage units.

CEO Yuriy Kosyuk said: “This transaction will serve to strengthen and support our expansion further. It will enable us to continue to implement our vertical integration strategy by expanding our operations to deliver high-quality products for the domestic market and run our business efficiently.”

EBRD director for agribusiness Gilles Mettetal said the loan was part of its focus on “strong local companies and brands”.

“The project also underscores the EBRD’s commitment to supporting energy efficiency initiatives across all the projects that it finances,” Mettetal added.

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