Kiev, Ukraine, June 24, 2010—IFC,
a member of the World Bank Group, will invest in meat producer Globino
to help increase production capacity, modernize equipment, and create about
600 jobs in central Ukraine’s Poltava Region.
IFC will provide $25 million as debt and quasi-equity financing. The
financing will be used to support the expansion of production capacity
of fresh and processed meat, increase pig farm and slaughterhouse capacity,
and modernize and expand cheese and butter-making capacity.
“This partnership with IFC is very important for us,” said Oleskander
Kuzminsky, Founder of Globino. “Our company is still relatively
young and we are looking to grow by improving our operations and production
quality standards. IFC’s funds will help us expand our capacity
to meet growing demand for pork in Ukraine.”
Elena Voloshyna, IFC Country Manager for Ukraine, said, “This deal demonstrates
our commitment to supporting Ukraine’s agribusiness sector as it is a
vital engine of economic development and job creation in the country. IFC’s
investment will support Globino’s expansion and modernization of its operations
following the economic crisis. We support the company’s growing
focus on quality and improved energy efficiency solutions.”
In agribusiness, IFC supports the entire value chain from farm production
to collection, processing, and distribution. IFC is committed to
helping Ukraine maximize its agribusiness potential and so far has committed
over $400 million to various projects in the agricultural sector. It
also offers an extensive advisory program, including projects focusing
on development of the agri-insurance market in Ukraine, improving food
safety standards, and developing supply chains for fruit and vegetables.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing capital for private enterprise, and providing advisory and risk
mitigation services to businesses and governments. Our new investments
totaled $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.
For more information about Globino, please visit www.globino.ua.