The International Finance Corporation (IFC) of the World Bank is to invest US$25m in Ukraine meat and dairy producer Globino to help increase its production capacity, modernise equipment, and create around 600 jobs.
The money will come in debt and quasi-equity financing and will help expand fresh and processed meat production; increase pig farm and slaughterhouse capacity; and modernise and expand cheese and butter-making.
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Oleskander Kuzminsky, founder of central Ukraine-based Globino, said: “We are looking to grow by improving our operations and production quality standards.”
He welcomed the ability of new capacity to meet growing Ukraine pork demand.
The IFC’s Elena Voloshyna said the agency admired “the company’s growing focus on quality and improved energy efficiency solutions.”
Ukraine’s food production sector has been an IFC priority, receiving $400m in financing.
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