EBRD to provide 25 million dollars for developing agriculture in Moldova
14:19 | 05.11.2014 Category: Economic
Chisinau, 5 November /MOLDPRES/- The European Bank for Reconstruction and Development (EBRD) offers 25 million dollars to the Trans-Oil Group of Companies, leader in the export of cereals and important processor of oilseeds from Moldova.
The EBRD investments will boost agriculture in Moldova, as well as in Ukraine, while financing from other sources remains restricted and seriously limits the capacity of the sector to reach its maximum potential, the bank’s experts said.
The EBRD’s financial assistance will be invested in extending the cereals terminal in the Giurgiulesti port on the Danube, purchasing and modernizing the cereals storage in the neighbouring port of Reni, in Ukraine.
“We contribute to creating a better infrastructure of commercializing cereals from Moldova and Ukraine, which will bring benefits to local farmers and other exporters, will promote deeper regional integration and will strengthen the investment ties between the two countries”, EBRD Director for agri-food industry Gilles Mettetal said.
In the last decade, the Trans-Oil Group company has steadily increased, thus becoming the largest company in the agri-food sector from Moldova, exporting to the EU, North Africa and Middle East. It uses Giurgiulesti, the single port of Moldova, as main cereals terminal.
The company, having a modern infrastructure, will be able to collect five times more cereals in Ukraine till 2017. This will also help the company to set relations with more farmers and to provide technical consultancy on sustainable and profitable agriculture.
EBRD and Trans-Oil Group are long-term partners.
EBRD is the biggest institutional investor in Moldova and Ukraine. So far, it has offered 1.9 billion euros for over 100 projects in the agri-food sectors of both countries.
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