OREANDA-NEWS. July 16, 2010. Ukraine's major agribusiness operator, ASTARTA, will receive a EUR10 million loan from the EBRD, which is continuing to lend actively to this key sector of the Ukrainian economy. Astarta is planning to use loans proceeds for purchase of equipment, which will bring significant energy efficiency improvements at the company's sugar production plants, as well as to construct two sugar storage facilities.

This is the third transaction between the Bank and Astarta, which brings total EBRD commitments to the company to over EUR40 million since May 2008. The project is part of the Bank's work towards reducing the cost of food by helping boost agricultural output and support high-performing agricultural companies in the region.

The project is expected to result in further energy savings which will help ASTARTA lower its production costs, improve competitiveness and reduce the carbon footprint of its operations. The loan is a is a continuation of ASTARTA's  energy efficiency programme initiated in 2008 and supported by the first EBRD loan.

Gilles Mettetal, EBRD Director for Agribusiness said, "The Bank is once again demonstrating its commitment to the sustainable development of local agriculture. By supporting companies like ASTARTA, we promote energy efficiency, reduction of carbon emissions and modern farming methods. All these aspects are crucial in Ukraine's bid to become the breadbasket of Europe once again."

Victor Ivanchyk, CEO of ASTARTA Holding N.V. said: "We are proud with our impressive track record in cooperation with the EBRD. We consider the next loan as the recognition of ASTARTA's efforts in investing into sustainable development and environment protection, as well as introducing the Best Available Techniques. The new facility will help us further to increase efficiency of our key production assets and to strengthen the leading position of ASTARTA on the Ukrainian agrimarket."