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IFC Invests to Improve Resource Efficiency in Ukraine Agribusiness, Mitigating Climate Change


In Kiev:
Olena Harmash
Phone: +380 44 490 64 00
E-mail: OHarmash@ifc.org

In Washington, D.C.:
Ludi Joseph
Phone: +1 202 473 7700
E-mail: LJoseph@ifc.org

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 gas emissions.

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.

About IFC
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/

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