European Investment Bank and ASTARTA signed EUR 37 mln agreement

EIB funding will contribute to upgrade the infrastructure of agriculture, a strategic economic sector of the country generating some 20% of Ukraine’s GDP and a significant source of employment for 14 million of the Ukraine’s citizens living in rural areas.
The EIB loan will finance new storage infrastructure and its capacity extension for grain and sugar of Agro-Industrial Holding “Astarta-Kyiv”. In this context, for the first time in Ukraine, the EIB will make financing available from its “InnovFin – EU Finance for Innovator” instrument under the European Union’s Horizon 2020 program of which Ukraine is an associated member. EU bank will use InnovFin to support Astarta’s development of agribusiness management software which will cover the entire agricultural value chain.  
The EIB financing will contribute to the EIB’s Climate Action objective as modern storage facilities contribute to the reduction of post-harvest losses and help mitigate adverse weather events. It will contribute to the modernization of the agricultural sector in several regions of Ukraine: Vinnytsia, Poltava and Khmelnytskyi.