Kiev, Ukraine, February 8, 2012—IFC,
a member of the World Bank Group, is investing $5 million in Ukraine’s
Mriya Agroholding to improve energy and resource efficiency at its four
sugar plants, helping to mitigate climate change and reduce green house
IFC’s cleaner production team recommended
ways to reduce energy consumption, water usage, and CO2 emissions at the
four sugar plants located in western Ukraine’s Ternopil region. Implementing
these improvements will allow the plants to save up to 60,168 MWh/year,
equivalent to annual electricity usage by 20,000 households, and also reduce
water use by 343,300 cubic meters per year, equivalent to annual water
consumption by 3,000 households.
“Sugar production in Ukraine is very
energy intensive, with energy costs comprising up to 25 percent of total
production costs,” says Mykola Guta, Mriya Agroholding CEO. “We
are aiming at implementing a number of resource efficiency improvements
to cut costs, improve operational practices and become much more competitive.
IFC is our long-term partner and has continuously supported us in adopting
the best environmental and social standards since its first investment
in our company.”
Rufat Alimardanov, IFC’s Country Manager
for Ukraine and Belarus, said, “IFC is committed to continue supporting
Mriya Agroholding in adopting best practices to protect the environment.
We hope that our cooperation will set an example for other agribusiness
companies in Ukraine, making the entire sector more competitive and contributing
to reducing energy intensity of the Ukrainian economy.”
IFC has already invested twice in Mriya
Agroholding, helping the company increase its production volumes and create
hundreds of new jobs in rural areas.
In agribusiness, IFC supports the entire
value chain, from farm production to collection, processing, and distribution.
It has invested around $500 million in various projects so far in Ukraine’s
agricultural sector. IFC also offers an extensive advisory program,
including projects focusing on development of the agricultural insurance
market in Ukraine, improving food safety standards, resource efficiency
and cleaner production.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
About Mriya Agroholding
For more information, visit http://mriya.net/