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EBRD and Raiffeisen Bank to provide up to UAH 100 mln loan to Enzym yeast producer to replenish working capital
KYIV. Sept 20 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank (Kyiv) have decided to provide a loan totaling UAH 100 million to PrJSC Enzym (Lviv), a large Ukrainian manufacturer of yeast and baking additives, to replenish working capital and maintain production volumes in the current and next years.
"The European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank are joining forces to support Enzym, Ukraine’s leading baker’s yeast producer. Raiffeisen Bank is providing Enzym with a loan of up to UAH 100 million, with the EBRD guaranteeing UAH 60 million through a risk-sharing facility," the bank said on its website.
"The joint Raiffeisen-EBRD facility will finance the company’s working capital needs and help secure the supply of raw materials required for the 2022 and 2023 seasons, to ensure production volumes are maintained at current levels. The project is part of the EBRD’s Food Security Ukraine package, which falls under the Bank’s Resilience and Livelihoods Framework aimed at supporting the Ukrainian economy. It will help sustain the provision of services by Enzym and safeguard business activities in Ukraine, with the ultimate goal of preserving livelihoods," the report says.
"The EBRD has pledged to invest EUR1 billion this year to support the Ukrainian economy, with risks shared by donors and partners. To address the Ukrainian economy’s most pressing current needs, the EBRD is prioritizing five areas: trade finance, energy security, vital infrastructure, food security (covering the provision of liquidity to farmers through banks for the spring sowing season, as well as to agribusiness companies and food producers and retailers) and providing liquidity to pharmaceutical companies. Investments in all areas will involve risk-sharing with partners," the bank noted.
PrJSC Enzym is engaged in the production of pressed and dry baker’s yeast, additives for baking and confectionery production, active fodder and wine yeast. Its share in the Ukrainian yeast market is about 60%. About 40% of products are exported to European countries.
