Kiev, Ukraine, January 16, 2014—IFC,
a member of the World Bank Group, is providing $65 million to Mriya Agro
Holding, one of Ukraine’s leading agricultural producers, to support its
expansion, improve agricultural land productivity, and increase sustainable
production of food crops, contributing to global food security.
IFC’s investment includes a multi-year
working capital facility and a loan to improve waste management practices.
It will also support Mriya’s investment program, aimed at expanding the
scope of its agricultural operations to about 400,000 hectares in three
years. The expansion of farming operations will help create jobs in Ukraine’s
impoverished western regions where the bulk of Mriya’s work is concentrated.
“Our long-term partnership with IFC
has helped us secure steady growth over the past few years, despite challenging
economic conditions in Ukraine,” said Mykola Guta, CEO of Mriya. “The
new IFC loan will enable us to grow further and continue to improve the
efficiency of our operations.”
Over the last seven years, Mriya has
expanded its cultivated land from 16,000 hectares to about 300,000, producing
over one million tons of grains in 2012.
“Our financing will support one of
the most dynamic and productive agricultural companies in Ukraine. Supporting
increased production of food through sustainable use of land and other
resources is a priority for us in Ukraine. It will help Ukraine maximize
its agribusiness potential and play a key role in global food security,”
said Rufat Alimardanov, IFC’s regional head for Ukraine and Belarus.
In agribusiness, IFC supports the entire
chain, from farm production to collection, processing, and distribution.
It has invested over $800 million in various projects so far in Ukraine’s
agricultural sector. IFC also offers an extensive advisory program, including
projects focusing on simplifying business regulations in the sector, developing
the agricultural insurance market and expanding access to finance for farmers,
improving food safety and resource efficiency standards, and developing
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. Working with private enterprises in more than 100 countries,
we use our capital, expertise, and influence to help eliminate extreme
poverty and promote shared prosperity. In FY13, our investments climbed
to an all-time high of nearly $25 billion, leveraging the power of the
private sector to create jobs and tackle the world’s most pressing development
challenges. For more information, visit www.ifc.org.
For more information, please visit www.mriya.ua.